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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 23960
Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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I loaned my son a great deal of money to purchase a building

Customer Question

I loaned my son a great deal of money to purchase a building lot.
He and his wife started paying me back by paying off my condo, but stopped when they ran short of cash.
Being my son it was not documented.
He and his wife are getting divorced and it will be the divorce from hell.
He recognizes the debt, but of course she will not.
How do I place a lien on the property. They built a mansion on the lot so the loan is only about 20% of the home value.
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 10 months ago.

Good evening. I certainly understand the situation and your concern. In order place a lien, you would need to first get a judgment. For that to happen, you would need to sue them and show/prove that there was a loan and they failed to repay it per the terms and conditions as agreed upon and they owe you the money. Then, if it is not paid, you can secure the judgment by placing the lien. You can not simply place the lien on it since you must first show you are entitled to it.

Expert:  RealEstateAnswer replied 10 months ago.

Please let me know if you have any follow up questions or need any clarification on something which I stated above. Also, remember to rate my service at the top of this page, before exiting the site, so I can receive credit for my help. I hope you found it to be Excellent! Only rate my answer when you are 100% satisfied. If you feel the need to click either of the two lower ratings to the left, please stop and reply to me. I want to make sure your experience with the site was as pleasurable as possible and that you are satisfied with the help I provided.

Expert:  RealEstateAnswer replied 10 months ago.

I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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