Glossary

An involuntary lien is a claim against your property that's placed by someone else, often due to unpaid debt or taxes. It means someone other than you has a legal right to your property to cover a debt.

A voluntary lien is a legal claim placed on your property or asset with your consent, typically as security for a loan. It allows a lender to seize the asset if you fail to repay the debt.

A judgment lien is a legal claim against your property when you lose a lawsuit. It's essentially a way for the person you owe money to get paid.

A mechanic's lien is a legal tool that protects contractors and suppliers by securing their right to payment for work or materials they provide on a property. It’s like a safety net ensuring they get paid for their contributions.

A special assessment lien is a legal claim against your property for unpaid local improvement costs. Understanding it is crucial for homeowners and real estate investors.

A water and sewer lien is a legal claim against your property due to unpaid water or sewer bills. It's important to understand these liens because they can lead to serious consequences like foreclosure.

A municipal lien is a legal claim against your property for unpaid debts owed to a local government. It's important to understand them to protect your property rights.

A tax lien assignment is when a government entity transfers its right to collect unpaid property taxes to a third party. Understanding this process is important for homeowners and those looking to invest in tax liens.

A tax lien portfolio refers to a collection of tax liens purchased by an investor, often with the goal of earning returns through interest or property acquisition. Understanding them can be crucial for both investors and property owners.

A quiet title action is a legal process used to resolve disputes over property ownership and clear up any clouds on a title. It is often necessary to ensure you have full and legal ownership of your real estate.