Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law

What does it mean when a lien is put on your house

Customer Question
? What type of incorporation...
What does it mean when a lien is put on your house ? What type of incorporation can protect your house against a lien? Can you put your house under a non-profit incorporation? I am asking these questions because I was in a very minut parking lot accident where we both backed up into each other. We both have Mercury insurance who unfortunately found me most at fault. She is a high profile person and claiming she was majorly injured to her shoulder needing surgery. The impact was very low and on the soft spot of the back rear door. Mercury from the beginning as did I believe there was fraud. She initially went for acupuncture treatments. They tried to settle with her and she came up with the new shoulder injury. She will not give prior health records. Now they want me to be prepared for they say the remote possibility of being in need of umbrella insurance, which I do not have. My sister told me that they could put a lien on my house, but it could be protected if incorporated-please help.
Submitted: 9 years ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 22 minutes by:
7/21/2008
Real Estate Lawyer: Real Estate Expert, Lawyer replied 9 years ago
Real Estate Expert
Category: Real Estate Law
Satisfied Customers: 1,974
Experience: Specialize in all phases of commerical and residential real estate transactions
Verified

HelloCustomer

A lien on real property may also result from a debt of the property owner that is not directly connected to the ownership of the land. If a debtor owner fails to pay a debt, and the creditor goes to court and obtains a judgment, the law usually permits the creditor to file that judgment in the land records so that it becomes a lien on the debtor's real property. If the debtor sells the property without satisfying the lien, the lien isn't discharged and it may still be satisfied by a sale of the property, even after it's been sold to a new owner. In most transactions, a bank or other mortgage lender will not provide mortgage financing until all liens on the property have been removed. If a judgment is obtained against you and filed in any county in which you own real estate, all real estate in that county will have a lien attached to it. You cannot sell or refinance any property in that county, since no title insurance company will guarantee a clean title. You're stuck until you pay off the lien.

Some people use a corporation or limited liability company to hold title to their real estate. While these entities will protect you, they will not protect your property. If you own all of your properties in one corporation, a judgment against the corporation will create a lien on all property owned by the corporation. Furthermore, the directors and officers of a corporation are public record, so a corporation will not hide your ownership.

The solution for holding title to real estate is a land trust. A land trust is a revocable, living trust used to title ownership of real estate. Title to the property is held in the name of a trustee, who is forbidden to reveal the beneficial owner. The beneficial owner or "beneficiary" can be an individual, corporation or other entity for further protection. A land trust, if properly setup and implemented, will hide your name from the public records. No one will know who owns the property but you, your attorney and the trustee. If a judgment is entered against you, a lien will not automatically attach to the property, since title is not in your name.

In order for this lady to put a lien on your house she would have to get a court judgment for the amount of the lien. She would essentially have to sue you in court for the accident. I would try talking to her and see if she is will to work out something reasonable for the accident.

Please let me know if you have any other questions, or require clarification of this matter. Otherwise please hit "ACCEPT", so I may receive credit for my response. Thank you.

 

Ask Your Own Real Estate Law Question
Customer reply replied 9 years ago
You indicated that a beneficiary can be a corporation could this be one of my own, such as non-profit or another type, should I set up 2. I am single, make a decent living as a professional, but have very little resources or assets. I am also clergy and was already looking to become incorprated. i do not have a trustee who i could trust. How do I set up a incorporation and land trust?
Real Estate Lawyer: Real Estate Expert, Lawyer replied 9 years ago

Sorry for taking so long to get back to you, I was unable to respond to your question because it got put in a category I was not authorized to answer but now the problem has been fixed.

Yes the beneficiary can be a corporation of your own. You do not even need to have to set up a corporation. You can be the beneficiary yourself. When someone searches the property it will come up in the trustee's name.

You should hire a local attorney to set up a land trust for you property and discuss all the issue with you about incorporating if you decide to go that route.

Please let me know if you have any other questions, or require clarification of this matter. Otherwise please hit "ACCEPT", so I may receive credit for my response. Thank you.

Real Estate Expert
Category: Real Estate Law
Satisfied Customers: 1,974
Experience: Specialize in all phases of commerical and residential real estate transactions
Verified
Real Estate Expert and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now
Ask Real Estate Expert Your Own Question
Real Estate Expert
Real Estate Expert
Real Estate Expert, Lawyer
Category: Real Estate Law
Satisfied Customers: 1,974
1,974 Satisfied Customers
Experience: Specialize in all phases of commerical and residential real estate transactions

Real Estate Expert is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

11,126 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,785 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,559 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,925 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
Tina. 60607 real estate attny? no. selling to sellers
hi tina. JA: What state are you in? It matters because laws vary by location. Customer: 60607 real estate attny ? JA: Has anything been filed or reported? Customer: no. JA: Anything else you want the … read more
Attyadvisor
Attyadvisor
Doctoral Degree
7,180 satisfied customers
If a real estate agent is aware that a rental property has
If a real estate agent is aware that a rental property has had rats that were exterminated, must this info be given to a prospective renter? … read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
I( Buyer) was in real estate contract for single family
I( Buyer) was in real estate contract for single family house and I backed off within option period. I want my Ernest money, however the seller already spent the money. My realtor requested seller to … read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,876 satisfied customers
This relates to a real estate transaction in Texas. I am the
This relates to a real estate transaction in Texas. I am the seller with a house under contract for purchase. The contract says the closing will occur on or before January 18, 2018. It did not occur. … read more
Ray
Ray
Lawyer
Doctoral Degree
7,559 satisfied customers
I currently hold a Real Estate License and Mortgage License
I currently hold a Real Estate License and Mortgage License in the state of Colorado. I am being told that I am a risk to hire from a local Real Estate Office because hold both. I do not double side a… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,785 satisfied customers
Got disconnected... In re: to my real estate questions, is
Got disconnected... In re: to my real estate questions, is this attorney a Texas attorney? … read more
Asad Rahman
Asad Rahman
Attorney
J.D.
2,300 satisfied customers
Is cold calling still legal for real estate agents?
is cold calling still legal for real estate agents? … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
My question is in regard to real estate in south Florida.
Hi! My question is in regard to real estate in south Florida … read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
Real Estate Question. In received notice to collect a debt
Real Estate Question. In received notice to collect a debt on a house in Monroe County, PA. I haven't lived in that house for at least three years (i co-signed to help my sister and her son) I was for… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,126 satisfied customers
I was wondering if real estate property was held in a sole
I was wondering if real estate property was held in a sole prop and more real estate was aquired to fix up and then held as rentals would it be wise to split the sole prop into real estate and constru… read more
WiseOwl58
WiseOwl58
JD Honors Graduate
3,723 satisfied customers
Can joint real-estate property purchased in Tennessee,
Can joint real-estate property purchased in Tennessee, financed in NC At Wells-Fargo Bank allow several loans to be taken out on the property with out the other joint owner knowing, and/or signing for… read more
Attyadvisor
Attyadvisor
Doctoral Degree
7,180 satisfied customers
I need a real estate lawyer who knows real estate in Oregon
I need a real estate lawyer who knows real estate in Oregon I need a lawyer who specializes in real estate law in the state of Oregon. I am quitting my current property manager and I will be managing … read more
Irwin Law
Irwin Law
Juris Doctor JD
7,093 satisfied customers
I need to ask a question about real estate/mortgage contract
Hi I need to ask a question about real estate/mortgage contract law in Philadelphia … read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,785 satisfied customers
Real estate question. NC. Mortgage. Need to know if fha pr
need to know if fha pr va loans will allow for spring water instead of well… read more
N.Brown ESQ
N.Brown ESQ
Juris Doctorate
17 satisfied customers
If I'm a mortgage banker, can I own a real estate brokerage
If I'm a mortgage banker, can I own a real estate brokerage and have my agents use me as their preferred lender? … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,393 satisfied customers
I have a real estate question related to Florida Real Estate
I have a real estate question related to Florida Real Estate law. … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
28,198 satisfied customers
Real estate law I'm the seller i signed real estate contract
Real estate law I'm the seller i signed real estate contract now i dont want to sell I initialed the contract instead of signing the sale price was illegible so the seller sent an amendment for me to … read more
Damien Bosco
Damien Bosco
3,395 satisfied customers
I have a Reverse Mortgage and became behind on real estate
I have a Reverse Mortgage and became behind on real estate taxes. I entered into an installment agreement with Riverside County, which my lender ignored and paid in full with the County. Now the Lende… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,785 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x