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Andrea, Esq.
Andrea, Esq., Lawyer
Category: Real Estate Law
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Experience:  I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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Can real estate with liens be sold? What happens to liens

Resolved Question:

Can real estate with liens be sold? What happens to liens on real estate property when the property is sold?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Andrea, Esq. replied 1 year ago.

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Under Minnesota law, as well as almost all States, if the property is sold witout the seller satisfying the liens, the "run" with the property. In other words, they remain with the property and the buyer takes "subject to" these liens. If the buyer does not pay off the liens, then the lienholder may ask the Court for a Writ of Execution, give the Writ to the Sheriff and have the Sheriff put it on his list and sell it at Sheriff's Sale. The proceeds from the sale will be distributed by the Sheriff to the lienholders in order of their priority. For example, if a lienholder in second position has the Sheriff sell the property, the Sheriff will use the proceeds to satisfy the lieholder who is in first position before paying anything extra to the second and third position lienholders.

 

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Customer: replied 1 year ago.
Thank you for your reply. Is it possible for the seller to assume or keep responsibility for the lien amount? Basically can the amount of the lien still remain the responsibility of the seller? Could this be accomplished through a quit claim sale?
Expert:  Andrea, Esq. replied 1 year ago.

Good morning, Dee,

 

The seller remains responsible, but the lienholder still has the right to sell the property to satisfy his lien. There are only two ways to remove the lien; the first way is to have the seller pay the lienholder what he owes him. The second way is to have the lienholder sign a Release, releasing the property from his lien. Otherwise the lien will remain on the property.

 

A Quit Claim deed transfers only whatever rights the owner in the property to the Grantee. If the owner has title which is encumbered by liens, that is what he will be transferring to the Grantee. So, the Grantee will be taking the property with all the liens and the lienholder can sell the property to satisfy his lien. This would be done in the way I described in my previous Answer,

 

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Please be kind enough to rate "Excellent Service" so that I receive credit

for assisting you,

 

 

Bonus and Positive Feedback on survey is very much appreciated,

 

 

 

Thank you for allowing me the opportunity to be of assistance,

 

 

ANDREA

 

 

 

 

Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 11876
Experience: I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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Andrea, Esq.
Andrea, Esq.
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I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.