Should I be concerned about a lien against family real estate if the family does not intend to sell our property?
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Should I be concerned about a lien against family real estate if the family does not intend to sell our property?
I was told by a family member that a title search on our family estate revealed that there is a lien against our family land. The lean is supposed to be at the courthouse. No one has contacted any of the family members concerning any lien. If we have not plans to sell the estate should we be concerned about this lien if it does exist. Should my family pursue this issue?
Asked on May 19, 2012 under Real Estate Law, Alabama
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Yes, you should at least take a look at what the lien is for. If it is a judgement it could be accruing interest and you need to figure out what the liability is even if you do not intent to sell now. At some point you might or you might need to tale out a loan against the property. Forewarned is forearmed. Good luck.
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