Investing in Secondary Market Tax liens
could result in amazing profits from redemption, selling the house as is, selling the house for more after a fix-and-flip, and more.
Pursuant to the New Jersey Construction Lien
Intercreditor agreements between first and second lien
holders are often fiercely negotiated because the stakes are high, both parties are usually sophisticated lenders with knowledgeable counsel, and the fundamental economic interests of the lenders are diametrically opposed.
A A potential lien
holder must provide notice to the property owner (and to the general contractor, if the potential lien
holder is a subcontractor) of the right to claim a lien
In principle, mechanics' lien
laws are the same in all states, but the specifics vary from state to state--for example, the time and place for filing mechanics' liens
and whether owners must retain a portion of funds otherwise payable to general contractors for the benefit of mechanics' lien
Purchasers of liens
through bulk sales typically have been mortgage market firms that demand high rates of return on lien
A preserved lien
has to be perfected, again with a 45-day limit.
Recorded construction loan mortgages--even with the requisite Lien
Law [section] 13 covenants for mortgages stating they are subject to the trust fund provisions of the Lien
Law--do not provide adequate notice.
6320(a), the Service has to provide the taxpayer with written notice of the lien
filing within five business days of the filing.
The Bank of Nebraska loaned Gordon's Towing $40,000; the bank, as a result, held a first lien
on two of Gordon's trucks, together worth about $40,000.
A mechanics lien
serves as a powerful tool for contractors, subcontractors and materials suppliers to secure payment for their work, labor or supplies.
One of the surest, but rarely used means by which a real estate broker can enforce its right to a commission is by filing a broker's lien