The Term “Lien” Explained

The Term “Lien” Explained

Everyone needs somebody to lean on, according to Bill Withers. Remember that old song, “Lean On Me”?

But not everyone, actually, NO ONE, wants a “lien” placed on their property.

According to, a property lien is a claim or legal right against a property that is typically used as collateral to satisfy a debt. A lien serves to guarantee the unpaid bill will be paid, eventually. If the property owner doesn’t willingly pay the bill when the lien is placed on the property, that lien will resurface when the property owner tries to sell the home.

So how can you avoid this happening to you?

When you hire someone to do work on your house you are agreeing to pay them for the work they will do.  Make sure you can afford to pay them before you hire them. When they complete the job and give you the bill, you should pay it and you should pay it on time.

If you find yourself in a situation where you are not able to pay your bills, talk to your financial institution about your options. It is best to get ahead of your debt rather than letting it pile up.

Most financial institutions can work with you or provide you options on how to find a short-term solution.

Are you in the market to buy or sell a home?  I’d love to walk that road with you.  Call me, Jill Bell, to start that conversation.

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