how do you clear a lean when the lean holder(Co) nolonger exsists?

Asked by Cool Papa, 92507 Thu Jul 12, 2012

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4
Sheryl Drake, Agent, Riverside, CA
Tue Feb 4, 2014
I recommend that you call a Title Company (Ticor, First American) - Ask to speak with a Title Officer. Supply the address of the home and they will pull the lien/s and tell you how to clear it. They are very helpful .

Don't do this on your own as when you sell your home you will need it to clear title and if you don't do it right they won't insure the title anyway. They won't charge you to steer you I the right direction and they are the professionals.

Being a Broker when we encounter a lien on title or a problem we immediately contact our title officer for advice. In some cases there even security bonds that can be purchased when a lien holder disappears or you can prove payment has been satisfied.
0 votes
John Souerbry, Agent, Fairfield, CA
Thu Jul 12, 2012
If you are re-financing or selling, your escrow and/or title company should be able to tell you who now holds the note on your property. Give them a copy of your latest mortgage statement and they will easily find out who now owns it.
If the lien you refer to is not a mortgage lender - that's an entirely different problem. Larry and Michael are right, you may have to go to court to get a release of the lien ordered by a judge because there is no one around to accept payment and release the lien. A good example is a mechanics or supplier's lien. For either, you need an attorney to research the lien and go to court for you to eliminate the lien by function of law.
Best of luck.
0 votes
Michael Emery, , Minneapolis, MN
Thu Jul 12, 2012
Excepting rare circumstances there must be some company that absorbed the remaining assets of the defunct company - either by debtor in possession or the purchasing of outstanding liens.

Check with an attorney that specializes in real estate law. You may be able to file a 'quiet title' action to get the lien dismissed. But this often requires a trip to court.
0 votes
Larry & Rose…, Agent, Riverside, CA
Thu Jul 12, 2012
HI, Cool Papa,


There are many different types of liens, and they are handled differently. A mechanics lien is different from a tax lien is different from a trust deed, etc.\

Your question would be better answered by a real estate attorney, especially if you are looking for instructions to clear that lien from title.

Have a GREAT day!

Larry Utesch
0 votes
Thank you for your answere,I heard something like that also.
Flag Thu Jul 12, 2012
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