Do You Need To File A Property Lien?

If you have ever purchased a house, you're probably familiar with the concept of a property lien. Essentially, a lien is a financial hold that is placed against a property when someone has refused to pay the money they owe to another party. With the lien in place, the party who should receive the money can be confident that the current owner will not be able to sell the property without first paying them the money that they owe.

 What if you are that person who deserves to be paid, but the other party isn't cooperating? How can you decide if you do need file a property lien - and if you do, how do you know which type of lien to file? The team at Phillips, McElyea, Carpenter, & Welch, P.C. is here to help.

Different Types of Property Liens

Property liens come in several different forms, and each one is specific to a different situation. Most of them are rather self-explanatory, but here are a few examples.

 Mechanic's Liens
What happens if you fail to pay the construction workers for the work they did on your home? Your contractor may place a mechanic's lien against the property. If this happens, the contractor can sue you to enforce the lien. If you lose the lawsuit, your home could sold to satisfy the debt.
Child Support Liens
Divorce impacts every aspect of your life, including this one. If you refuse to pay your spouse the child support ordered by the court, a lien for child support could be placed against your property which could make it difficult to to sell (or even refinance) your property until the debt has been paid.

 IRS Liens
This lien applies to anyone who neglects to pay the back taxes they owe to the IRS. The IRS is sometimes not as patient as other creditors; if you owe a substantial amount, they could force you to sell your home or other property so that the debt can be repaid.
Should You File A Property Lien?

If you find yourself without proper payment from any one of these situations, you may need to file a property lien in order to secure payment. Our team of real estate attorneys at the Lake of the Ozarks will be able to help you carefully evaluate your situation and determine the best course of action. Give us a call to schedule your consultation!
Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
The choice of a lawyer is an important decision and should not be based solely on advertising. When you need a knowledgeable attorney, we invite you to contact us to set up a consultation. Evening and weekend appointments are available. We have access to interpreters.

We accept Visa, MasterCard, and Discover.


85 Court Circle N.W., P.O. Box 559
Camdenton, MO 65020   GET A MAP
(573) 346-7231 - Telephone
(888) 236-2485 - Toll Free
(573) 346-4411 - Fax

Location: Camdenton, MO 65020, USA

Comments

Post a Comment

Popular posts from this blog

5 Reasons To Hire A Criminal Defense Attorney

Image
Criminal charges can turn your life upside down. If you are found guilty, you can suffer numerous consequences, including fines, imprisonment, and effect on your permanent record. If you are facing criminal charges, hiring an experienced criminal defense attorney can make a world of difference. Consider these reason why you should hire a criminal defense lawyer to represent your case. 1. Your Attorney Understands The Law It's no secret that the legal field is complex. Every law has exceptions, and every circumstance has different specific requirements. You need a criminal defense attorney that has experience dealing with these minute details and can help you use them to build a solid case. 2. Your Attorney Knows The Scene The Missouri Courts are like a world of their own. Each court has its own set of rules, social norms, and strict guidelines governing what behavior is and is not acceptable. If this is your first court case, you can not possibly know all of these unspo...
Read more

Legal Tips to Be Aware of When Entering Into a Marriage

Image
Congratulations! It is 2019 and this is the year you are getting married. Among all of the wedding planning, you probably haven't had time to think about the legal side of getting married. While it is not the most glamorous side, it is worth taking a look into. For example, has your fiance brought up the notion of signing a prenuptial agreement (prenup)? It is best to know what all comes with a prenuptial agreement and the advantages and disadvantages of choosing to sign one. Our attorneys at the Lake of the Ozarks are here to give you a few legal tips to be aware of when entering into a marriage. If you find yourself need a prenuptial agreement drawn up, call Phillips, McElyea, Carpenter, and Welch   today for your free consultation at 573-346-7231. Legal Tips to Be Aware of When Entering Into a Marriage Do You Plan to Legally Change Your Name After You Get Married? If you plan to change your legal name after marriage, here is what you need to do. According to the Misso...
Read more

Global Entrepreneurship Week: 5 Tips For Aspiring Entrepreneurs

Image
We live in a business-oriented society. From buying groceries to traveling internationally, we rely heavily on local, national, and international businesses for many a spect s of our lives. We have become so accustomed to using these businesses in our day-to-day lives that we now take many of them for granted. No matter how big a corporation is, it's important to realize that every business started out small at some point in time. Every business - even those with thousands of employees - originally began simply as an idea in the mind of one forward-thinking individual. Global Entrepreneurship Week USA We owe entrepreneurs a great debt of gratitude for the roles they have played in shaping our society, our culture, and our nation. Next week (November 14-20, 2016) is designated as Global Entrepreneurship Week USA in recognition of the importance of these forward-thinking individuals. In honor of this important week-long observance, our business attorneys in Camdenton MO ...
Read more