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 th...