![]() ![]() The owner has already worked out a payment schedule with the lender, and everyone is on the same page. One of the most common types of voluntary liens is a mortgage. A voluntary loan is one where the owner has already worked with the creditor. It breaks down into two common categories: voluntary and involuntary. Should the owner be unable to settle their debts, the creditor can extract what they're owed from the value of the property. Those who put their property up for collateral essentially give their creditor(s) an ownership stake in the home. Always consult with an attorney or certified tax expert before proceeding with any real estate transaction. ![]() See how liens are divided and what a seller can do to settle them.įor informational purposes only. A lien on a home does not necessarily mean that the home can't be sold, but it can complicate matters for the seller. However, those with involuntary liens may not be able to sell their home to a qualified buyer, which can make it difficult if they need to part ways with a property. Any party with an ownership stake in the home technically has a lien on it.
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