Las Vegas Property Leins
A lien on Las Vegas property is
a claim by one person on the property of another as security
for money owed. Such claims may include obligations not met
or satisfied, judgments, unpaid taxes, materials, or labor.
There are three types of recordable liens a homeowner should
be aware of.
The first is called a "Mechanics Lien" is recorded
by someone who is furnishing labor or materials for a particular
construction job.
The second is a "Government Lien" that is recorded
by a government agency because the owner failed to pay personal,
business, or real property taxes.
The third type of lien is a creditor's claim or charge
against the debtor's real property.
A lien binds a specified piece of Las Vegas property, unlike
a general lien, that is levied against all of one's assets.
It creates a right to retain something of value belonging to
another person as compensation for labor, material, or money
expended in that person's behalf. In some parts of the country
it is commonly referred to as "particular" lien or
"Specific Lien".
The Uniform Commercial Code (UCC) applies to any transaction
intended to create a security interest in personal property.
This interest can be considered as a lien on personal property.
For example, purchases such as buying furniture through a finance
company could be secured by using furniture, a boat, or accounts
receivable of a business as collateral for the loan.
A related recorded document reverses the original action for
almost all types of documents that place a liability on Las
Vegas land. It may be referred to as a dismissal, rescission,
termination, or cancellation.
If you are planning to purchase a home or relocate in the Las
Vegas area, contact
us for a prompt response. We invite you to visit our website
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