Jim Curry - Seller Book

balance (liability assessment), sends you a bill with the amount you owe (notice and demand for payment), and you fail or refuse to pay the full debt in time . Th e IRS usually utilizes this lien if you’re unemployed, self- employed, or sporadically unemployed and the IRS would have trouble attaching your income. • Mechanic’s Lien: A common nonconsensual lien on real estate is the “mechanic’s lien,” which can be obtained by one who furnishes labor, services, or materials to improve real estate. Mechanic’s liens are statutory, and the statute must be carefully followed. An automobile mechanic couldn’t obtain a mechanic’s lien on a customer’s house to secure payment of work he did on her car. To qualify for a mechanic’s lien, the claimant mus t fi le a sworn statement describing the work done, the contract made, and the materials furnished that permanently improved the real estate. • Family Law Real Property Lien: In a matrimonial action suit brought forth in the State of California, for example, a spouse ma y fi le a lien against his or her interest in mutually owned real estate to secure payment of attorney fees accrued in the actio n. Th e lien a ff ects only th e fi ling spouse’s interest in the property. Please check your individual state and municipal laws or a local attorney for guidance. • Condominium Association Lien: Condominium liens are strong tools granted by statute to condominium associations to ensure unit owners pay their assessments for common expenses in a timely manner . Th ey vary by state. Talk to a local attorney for more information. A lienholder doesn’t obtain any ownership or hold the property 107

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