Liens

Alex was ready to sell his starter home. He found a buyer, agreed on a price, and was weeks away from closing when his real estate agent called with bad news. A title search had uncovered a "cloud" on the title: an active mechanic’s lien .

Alex chose to pay a negotiated settlement. Once the supplier filed a with the county recorder, the "cloud" vanished, and the sale proceeded. What You Need to Know About Liens Alex was ready to sell his starter home

Some liens, like certain judgment or tax liens, have a statute of limitations and may expire if not renewed by the creditor. Alex chose to pay a negotiated settlement

A lien is a legal claim on an asset—usually a home or car—to secure the repayment of a debt. 1. Common Types of Liens A lien is a legal claim on an