When your house is used as security for a debt or other obligation, a lien will be placed on its title. Liens are a type of security interest pertaining to an unpaid obligation. Even though there is a lien on the property, the lender is still allowed to foreclose on it. Even after the property has been sold, the lien is still in place. It must be immediately paid before a clear transfer of title and ownership may occur.
Finding out your New Hampshire home has a lien against it can be a nuisance when you just want to sell your Londonderry home fast. This unforeseen speedbump can be quite a hassle to resolve, but is it worth it? In this article, you’ll read the basics of what a lien is, how it affects your property, and how you can sell your home with liens in Londonderry, NH.
What is a Lien and How Does It Affect Your Londonderry Property?
A notification that is attached to your property is called a lien. It is an usual tactic used by creditors to get paid what they are due. Your property effectively becomes security for the debt when a lien is placed on it. You need a clear title in order to sell or refinance the property.
How do you sell your home with liens in Londonderry, NH?
Be ready for a long, tiring process if you intend to sell your home with liens in Londonderry, NH. Many buyers are reluctant to buy properties with liens because they’d need to resolve the lean and that takes time and a lot of money. Your best option would be to just sell your house as-is in Londonderry, NH to a cash home buyer.
What should I do if I think I have a lien on my New Hampshire property?
You ought to have been made aware of the lien if the judgment had been rendered against you. You will be required to sign a statement acknowledging receipt of the judgment lien. Judgment liens, however, are attached to a piece of property, not to any specific person. Therefore, if your Londonderry home’s previous owner had a judgment lien filed against them and they didn’t resolve it before selling it to you, you now retain the judgment lien. There are numerous ways to determine whether your property is subject to a lien. To check the title first, you can go to your neighborhood courthouse. Hiring a title report company to examine the title of your home is a quicker, though perhaps more expensive, solution.
What kind of property is subject to a lien under New Hampshire law?
Every state permits the attachment of a judgment lien to the debtor’s real estate, which includes a home, apartment, piece of land, or other similar type of property interest. Additionally, certain states permit judgment liens to be placed on the debtor’s personal property, including valuables like jewelry, artwork, antiques, and other items. A judgment lien may be placed on either real estate or personal property in New Hampshire.
How does a creditor obtain a lien in New Hampshire?
During legal proceedings, the creditor may take the debtor’s possessions. The creditor submits the order of attachment to the New Hampshire Secretary of State for personal property. In each county in New Hampshire where the debtor owns property now or might have property in the future, the creditor must submit the order of attachment for real estate with the register of deeds.
How long does a judgment lien last in New Hampshire?
In New Hampshire, a judgment lien is linked to the debtor’s property for a period of six years, regardless of ownership changes. However, bear in mind that in New Hampshire, a number of factors will affect a creditor’s ability to collect under a judgment lien, including a fixed amount of value that won’t be touchable if the property is the debtor’s primary residence, known as a homestead exemption, other liens that may be in place, and any foreclosure or bankruptcy proceedings. If things get complicated, you may want to consult with a legal professional.
However, don’t lose hope yet. You can sell your Londonderry home fast and as-is with North Peark Property Solutions.
If you want to sell your home with liens in Londonderry, NH, look no further because North Peak Property Solutions, a cash home buyer in Londonderry, NH, is interested in your property. We buy houses in Londonderry, NH, regardless of the situation or condition, so you don’t have to worry about liens or other title issues. Once you accept our cash offer, you can walk away burden-free. Interested? Give us a call at (603) 617-4200 to get an offer today.
Company Name: NorthPeak Property Solutions
Contact Person: Chris C.
Email: Send Email
Address:8 Gilbert Dr #404
State: New Hampshire, 03054
Country: United States