The bustling, prosperous and popular community of Charleroi, Pennsylvania is the site of many fine residences. That means that there are many real estate transactions each year as those residences change hands.
Some people buy real estate as investments, while others, more domestically-minded, buy them as long-term family homes where they plan to live in wedded bliss and raise any children from the family. However, some homeowners may come to realize that their domicile has something that they do not want.
That unwanted surprise is a lien, which is a claim against the property, typically existing as a measure to secure payback for a debt that the homeowner allegedly owes.
If there is a lien on your house and it is deemed valid due to a debt that you owe to the person claiming the lien, that person can sue you and seize your property. Obviously, you want to avoid unnecessary liens against your home.
A bank that holds a mortgage on your home can place a lien against it in order to ensure that you pay the mortgage. Most people who get a mortgage understand that. However, you should know that the federal government can also file a tax lien, as can local governments, if you fail to pay the taxes that you owe them.
Additionally, contractors and subcontractors who worked on your home can file a lien. This is problematic, since many homeowners experience problems with contractors and subcontractors who do shoddy work.
You may also have a lien put on your home if you don't pay the alimony cash that your divorce decree demands of you. Falling behind on child support payments can also result in a lien on your home.
The most important thing to do is to find out if there is one on your home by checking with the local courthouse or getting a title company to write a report. After that, explore your legal options for protecting your home.
Source: Wealth Pilgrim, "How to Discover if There is a Lien on Your House," Neal Frankle, accessed Feb. 16, 2018