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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55442
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I have a lien against someone for $100,000. I am in second

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I have a lien against someone for $100,000. I am in second position behind the bank on a piece of property that is valued at $200,000. The person owes approximately $175,000 on the property. So if the property was sold tomorrow, I would only get $25,000. That would still leave me with only a 1/4 of the lien payed off (I'm using these numbers to make it easy to understand.)

I just found out that the person has a property in another county. It is worth $300,000 and he owns it free and clear. My question is can I move (transfer) my lien to the other property? If I can do this, what is it called when one transfers a lien to a different property? And lastly, is there any way I can force him to sell the property? Thanks for your help!
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good evening. You would have no right to voluntarily transfer your lien to another property. But, if the person is in default on your loan or the property that is liened gets foreclosed and you don't get paid in full from the foreclosure sale, you can file suit against the debtor for the deficiency. Once you get a judgment awarded in your favor for the deficiency, you can then place a judgment lien on the property in the other county; provided, if this other property is the person's homestead, it may have protection under the state's homestead exemption, depending upon the state in which the property is located. If located in SC, the exemption $53,375 (double if married).

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Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help! For easy access, my bookmark is: