Sentences with phrase «lien upon the property»

Examples of disclosures pursuant to § 1026.38 (k)(2)(viii) include the satisfaction of outstanding liens imposed due to Federal, State, or local income taxes, real estate property tax liens, judgments against the seller reduced to a lien upon the property, or any other obligations the seller wishes the closing agent to pay from their proceeds at the real estate closing.

Not exact matches

(6) incur temporary debt in anticipation of receipt of funds; provided that a Horace Mann school shall obtain the approval of the local school committee and appropriate local appropriating authorities and officials relative to any proposed lien or encumbrance upon public school property or relative to any financial obligation for which the local school district shall become legally obligated; and provided further, that notwithstanding any general or special law to the contrary, the terms of repayment of any charter school's debt shall not exceed the duration of the school's charter without the approval of the board;

A lien is any official claim or charge on a piece of property, known as collateral, for payment of a debt owed or for some agreed upon service.

«Lien stripping» (elimination of mortgages) means that upon successful completion of your Chapter 13 the mortgage company will have to remove the junior mortgage (s) from your property and the arrears on the mortgage (s) don not have to be paid back.

A debtor can not file under chapter 12 (or any other chapter) if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.

A bankruptcy or consumer proposal will not be able to remove the lien and it will have to be paid out upon sale of your property.

A mortgage has a residential, commercial or open lot property which can have a lien placed upon it.

«Lien stripping» (elimination of mortgages) means that upon successful completion of your Chapter 13, the mortgage company will have to remove the junior mortgage (s) from your property and the arrears on the mortgage (s) do not have to be paid back.

As the payment of unpaid amounts under the Shared Services Agreement was secured by a lien enforceable in the same manner as a mortgage in default, the condominium corporation's claim fell under the Real Property Limitations Act, which has «a ten - year limitation period for an action to recover out of any land any sum of money secured by a lien or otherwise charged upon or payable out of the land.»

Any person who performs or furnishes labor or professional design or surveying services or furnishes materials or furnishes rental equipment pursuant to a contract, either express or implied, with the owner of real property for the making of an improvement thereon shall, upon complying with the provisions of this Article, have a right to file a claim of lien on real property on the real property to secure payment of all debts owing for labor done or professional design or surveying services or material furnished or equipment rented pursuant to the contract.

If the obligor is an owner of the property being improved, the lien claimant shall be entitled to a claim of lien upon real property upon the interest of the obligor in the real property to the extent of the owner's personal liability under subsection (b) of this section... which claim of lien on real property shall be entitled to the same priorities and subject to the same filing requirements and periods of limitation applicable to the contractor.

A spouse contemplating bankruptcy may also want to consider timing with respect to the possibility of a statutory lien for attorney's fees attaching upon final judgment and the conclusion of disputes concerning marital property.

In just one section, titled: Federal Tax Lien, the article states: «Section 6321 of the Internal Revenue Code imposes a tax lien «upon all property and rights to property, whether real or personal,» belonging to a taxpayer, if he or she neglects or refuses to pay any taxes, including cash surrender values of insurance policies.&raLien, the article states: «Section 6321 of the Internal Revenue Code imposes a tax lien «upon all property and rights to property, whether real or personal,» belonging to a taxpayer, if he or she neglects or refuses to pay any taxes, including cash surrender values of insurance policies.&ralien «upon all property and rights to property, whether real or personal,» belonging to a taxpayer, if he or she neglects or refuses to pay any taxes, including cash surrender values of insurance policies.»

In making an equitable apportionment of marital property, the family court must give weight in such proportion as it finds appropriate to all of the following factors: (1) the duration of the marriage along with the ages of the parties at the time of the marriage and at the time of the divorce; (2) marital misconduct or fault of either or both parties, if the misconduct affects or has affected the economic circumstances of the parties or contributed to the breakup of the marriage; (3) the value of the marital property and the contribution of each spouse to the acquisition, preservation, depreciation, or appreciation in value of the marital property, including the contribution of the spouse as homemaker; (4) the income of each spouse, the earning potential of each spouse, and the opportunity for future acquisition of capital assets; (5) the health, both physical and emotional, of each spouse; (6) either spouse's need for additional training or education in order to achieve that spouse's income potential; (7) the non marital property of each spouse; (8) the existence or nonexistence of vested retirement benefits for each or either spouse; (9) whether separate maintenance or alimony has been awarded; (10) the desirability of awarding the family home as part of equitable distribution or the right to live therein for reasonable periods to the spouse having custody of any children; (11) the tax consequences to each or either party as a result of equitable apportionment; (12) the existence and extent of any prior support obligations; (13) liens and any other encumbrances upon the marital property and any other existing debts; (14) child custody arrangements and obligations at the time of the entry of the order; and (15) such other relevant factors as the trial court shall expressly enumerate in its order.

«For slander of title to be actionable the statement, which can be a lien, a certificate of pending litigation («CPL»), or other notices against title, must operate as a cloud upon the plaintiff's rights to the property at issue which makes third parties shun and avoid the plaintiff's property from a commercial point of view....

In order to successfully claim a lien upon a lessor's property for work done for a tenant, the claimant must be able to prove the existence of either an express or implied contract whereby the tenant is bound to improve the lessor's property.

Finding out there is a huge lien on the property transferred to you upon the sale could lead to foreclosure.