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What lien forms should I fill out for my property investment situation?

What lien forms should I fill out for my property investment situation?

Q: Which circumstance would create a voluntary lien?

A voluntary lien is created when a property owner agrees to use their property as collateral for a loan. This often occurs during mortgage agreements, home equity loans, or when financing a property purchase. The owner's consent is crucial, as they must sign documents that establish the lien.

Full question:

What lien forms do I fill out for this situation? My wife and I because of a sale of a piece of property being sold to a developer and the city taking its time to approve the sale, we had to find a new place to live. My mother-in-law co-signed for our new place. We had a agreement to pay her back when the home that was tied upin sale, sold. Since then my wife and I have separated and she says that the house will be hers, because in the state of Washington anything inherited goes to her. Her mother is 86. </br> I found this house at a very good price $100,000.00 for the property only and it had a very beat upmanufactured home on it. I moved in 3 months before my wife and mother-in-law and completely remodeled the place and it is now worth about $200,000.00, we spent about $20,000.00 of our money to help with private sub contractors. I have over a year of labor and organizing the work. What can I do for all I have invested in the property?

Category: Power of Attorney
Subcategory: Real Estate
Date: 04/07/2025
State: Washington

Answer:

If filing a mechanic's lien on the property isn't possible, you may still have options to claim the value of your contributions in a contract or divorce action. Consulting a local attorney is advisable to review your situation and documents.

In Washington, to file a mechanic's lien, you need to follow these steps:

Notice to Customer: This notice must be provided before starting work on residential projects costing $1,000 or more. It informs the customer of the contractor's registration number and the potential for liens.
Notice to Owner: If you do not have a direct contract with the property owner, you must send this notice within 60 days of starting work on commercial projects or within 10 days for residential projects. It outlines the owner's protections against liens.
Claim of Lien: To create a lien, you must record a Claim of Lien with the county auditor within 90 days of completing your work. This claim must include details like the claimant's name, the work start date, the property description, and the amount owed. You must also send a copy to the property owner within 14 days of recording the lien to recover attorney's fees in any foreclosure action.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is a specific voluntary lien?

A specific voluntary lien is a legal claim against a specific property that the property owner agrees to, usually as part of a loan or financing arrangement. This type of lien is created when a property owner borrows money and uses the property as collateral. If the owner fails to repay the loan, the lender can enforce the lien to recover the owed amount by selling the property.

What is a voluntary specific lien against the property?

A voluntary specific lien against property is a type of lien that the property owner willingly agrees to, typically in connection with a loan or mortgage. This lien is tied directly to a particular piece of property, allowing the lender to claim it if the borrower defaults on their obligations. Examples include mortgages and home equity loans.

Which circumstance would create a voluntary lien?

How much does it cost to put a lien on someone?

The cost to file a lien can vary based on the state and the type of lien. Generally, fees may include court costs, recording fees, and attorney fees if legal assistance is required. In Washington, for example, filing a mechanic's lien typically involves a small fee for recording with the county auditor. It's advisable to check local regulations for specific costs.

What are the three types of liens?

The three main types of liens are: 1) **Voluntary liens**, which are agreed upon by the property owner, such as mortgages; 2) **Involuntary liens**, which are placed on property without the owner's consent, often due to unpaid debts like taxes; and 3) **Statutory liens**, which arise automatically under the law, such as mechanic's liens for unpaid work on a property.

Can someone put a lien on your property without you knowing?

Yes, someone can place an involuntary lien on your property without your knowledge, typically for unpaid debts like taxes or court judgments. However, the property owner is usually notified once the lien is recorded. It's essential to regularly check property records to stay informed about any liens that may affect your property.