Vocabulary: Lien
Vocabulary: Lien
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๐ก Real Estate Vocabulary: Liens! ๐ก
A lien is a legal claim against a property that must be paid off before the property can be sold. It ensures that a debt or obligation is settled before ownership fully transfers.
๐น Mortgage Liens โ The bank holds a claim until the home loan is paid off.
๐น Tax Liens โ If property taxes arenโt paid, the government can place a lien.
๐น Mechanicโs Liens โ Contractors can file liens for unpaid work.
If you're buying or selling, itโs important to check for liens during the process! Need help navigating this? Weโve got your back! โ
#BHGRE #WostalRealty #NobodyKnowsHomesBetter #HomeBuying #RealEstateTerms #PropertyLiens
