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Do I need to put another lien for additional fees that haven't been paid or does the original lien take this into account?

Do I need to put another lien for additional fees that haven't been paid or does the original lien take this into account?

Q: Who is paid first when a property is sold to satisfy a lien?

When a property is sold to satisfy a lien, the lienholder is typically paid first from the proceeds of the sale. This is especially true for secured liens, such as mortgages. However, the order of payment can depend on the type of lien and any other existing liens on the property.

Q: What happens if you don't pay a lien?

If you don't pay a lien, the lienholder may take legal action to enforce the lien. This could lead to foreclosure or a forced sale of the property to recover the owed amount. It's crucial to address liens promptly to avoid these serious consequences.

Q: What are the three types of liens?

The three main types of liens are consensual liens, statutory liens, and equitable liens. Consensual liens arise from agreements, like mortgages. Statutory liens are created by law, such as tax liens. Equitable liens arise from court judgments or agreements that imply a right to payment.

Q: What is the right of lien?

The right of lien allows a creditor to retain possession of a debtor's property until the debt is paid. This right serves as security for the obligation and can compel payment. It is important to understand the specific laws governing liens in your state.

Full question:

An owner is not paying his annual dues. I put a lien on the property back in August but now the amount has doubled. Do I need to put another lien for the difference or does the original lien take this into account?

Category: Civil Actions
Subcategory: Liens
Date: 04/07/2025
State: Utah

Answer:

Generally speaking, it would be highly advisable to file a second lien for the new total amount. If the original lien specifies an amount that has now doubled, or fails to specify an amount, there could be problems. You cannot hurt yourself by filing a new lien for the new amount. We cannot, however, give you legal advice. To obtain a complete assessment of your situation, including legal advice on a proper course of action, you should contact a local attorney.

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

How long does a lien last in Rhode Island?

In Rhode Island, a lien generally lasts for 10 years from the date it is recorded. However, it can be renewed for another 10 years if the lienholder files a renewal before the original lien expires. It's important to keep track of these timelines to ensure your lien remains enforceable.