Full question:
Need a lien doc to file when 2 parties mutually agree to place a lein on the property as security for money owed, not contractor work done.
- Category: Real Property
- Subcategory: Liens
- Date:
- State: National
Answer:
A promissory note may contain a security agreement, so that the
debtor may take possession of the specified collateral if the borrower
defaults on the loan.
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.
