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In NM, the standard for an "abandoned vehicle lien" (this included mobile homes and trailers... basically anything movebale and titled) is something that is left for "an unreasonable period of time". This is generally at least 30 days, but that is fact dependent. If the
If the owner has indicated that he will not return, then the period of time could be shorter.
Here's information on how to make a claim from the NM MVD: http://www.mvd.newmexico.gov/SiteCollectionDocuments/assets/Mvd11070.pdf
Right now the lien belongs to a mortgage company called Greentree which have bee non responsive. How will that factor in
The lien itself will be subservient to the greater lien. You can still sell the mobile home, but the purchaser will have that greater lien still on the title.
I do not intend to sell the home. My intention was to buy the home the first place but since i have not heard a response from the company in over a month I need to take action so that i could either have them take the homne away so that i could put something else there so that my family and i can start living on this property I've invested in.
I understand. Giving notice to Greentree that you intend to place a lien on the property will probably get them to take action.
That is, a lien could implicate their rights and the ability to get something out of the property.
As for purchasing it, you can do so at the public sale (that is part of the lien process), but like I said before, the previous lien by Greentree would still be "senior" to your lien, and would still attach to the mobile home.
Only when they sell it or otherwise release the lien would that lien no longer be encumbering the property.
So by placing lien I will be assuming responsibilty for the exsisting lien?
No. By placing a lien you're basically "getting in line" behind the other one.
By purchasing the property at the sale you still wouldn't be responsible for it, but they could still enforce the lien by repossession and sale.
You won't be responsible for the Greentree lien in any event. You will need to pay off the lien if you purchase the mobile home and you want to make certain that Greentree won't repossess the home and sell it to satisfy their lien.
But that's the only situation in which you would need to pay that lien.
Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX luck to you!
I'm still uncertain
Did you have further questions?
Or do you need clarification?
What aspect do you need clarification on?
What did you mean by public sale? Nobody is doing anything about this home that is on MY property that I would like to start living on.
I understand. As part of the lien process, you can force the sale of the property that you place the lien on. This sale is a "public sale" by auction.
The document that I linked to above: (http://www.mvd.newmexico.gov/SiteCollectionDocuments/assets/Mvd11070.pdf) has more information about how to assert a lien and sell the vehicle.
Can I put a lien and claim it for myself instead of going the hassle of trying to sell it?
You "could" claim it for yourself, but that does not have any legal effect. That is, it does not change the title (which a sale would).
Ultimately Greentree might not be interested in pursuing this, and so if you "claim" it (unofficially) then you might just be able to live there as though you did own it.
And when you want it to be removed, you can go through the process above to get it sold.
So what if a put the lien and greentree two months from now decides to pick it up?
What rights do I jhave once I put a Lien on it is what I'm asking?
If they sell it, and have anything left over, you would get the amount of the storage costs inccured.
That is, once they take it or sell their lien, you can also assert yours (in that they would have to inform you of the sale). If there is anything left after the sale, it goes to the next lienholder, and so on, until no lienholders are left, and then the remainder (if any) goes to the previous owner.
Now you can also sue that individual for reasonable storage costs. The lien is merely to secure those costs and get them from the sale of the secured property.
Your expert advis would be to move forward with the link above an begin the process?
Yes, I would certainly do that if I were you. I would get the process started, and you might find that you will hear from Greentree very quickly. It's not a sure thing, but it shows that you're serious.
Thank you so much for your time.
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