JUDGMENTS & LIENS Michael C. Savas Regional Underwriting Counsel MORTGAGES Validity “Purposes and Considerations” Limitations 5 year statute Priority Race to the Courthouse Enforcement Judicial vs. Non-Judicial LABORERS’ LIENS Validity $300 level Limitations Proceedings commenced w/in 8 mths LABORERS’ LIENS Priority From time labor is performed Laborer’s Liens subordinate to prior liens. Enforcement Notice given “in the usual way” MECHANICS’ & MATERIALMEN’S LIENS Validity Lien may be asserted by a contractor, subcontractor or material supplier Limitations Notice 10 days before filing. Affidavit must be filed 120 days after work performed or materials furnished. Actions must be filed w/in 15 months of filing of the affidavit. MECHANICS’ & MATERIALMEN’S LIENS Priority From date that construction or repair first commenced. Priority as to recorded liens. Enforcement Bonding Around MEDICAL SERVICES LIEN Validity By nurse, hospital, ambulance service, doctor, dentist, chiropractor or licensed massage therapist. Limitations Suit must be filed w/in 180 days of filing of the notice PROPERTY TAX LIENS Validity All property subject to lien 1st Monday of January. Limitations No limitations Priority Priority over all other liens PROPERTY TAX LIENS Enforcement Certification to the commissioner Notice provided 2 year ROR from certification Sale shall occur within 2 yrs from cert. Limited Warranty Deed to buyer 2 years to contest validity FEDERAL TAX LIENS Validity Notice filed in county where real property is located. Limitations 10 years & 1 month from date of assessment FEDERAL TAX LIENS Priority No additional. State law applies Enforcement Judicial vs. Non-Judicial FEDERAL ESTATE TAX Lien is valid for 10 years from date of death. No notice requirement Exclusion amount: 2007 & 2008: 2 million 2009: 3.5 million FEDERAL JUDGMENTS Validity Lien created on debtor’s real property Limitations 20 years / may be refiled Priority Priority over any subsequently perfected liens CRIMINAL LIENS Federal Criminal Fine/Restitution State Criminal Judgment Lien Validity: Real property of person charged with crime is subject to a lien Limitations: Suit w/in 2 years after filing. CRIMINAL LIENS State Criminal Judgment Lien Priority: Inferior to purchase money liens Enforcement: Lis Pendens filed w/in 6 months after rendition of the judgment. Theft of Public Property Lien on property of defendant. JUDGMENTS Validity Any judgment is a lien if recorded in the office of the circuit clerk Limitations 10 years from date of judgment Priority Recording is knowledge, but priority determined from date of judgment Enforcement Shall be foreclosed by execution CHILD SUPPORT LIENS Validity Lien on all real property of obligor Limitations 3 years after children reach majority Action for arrearages up to 5 years beyond reaching 18 Priority Becomes a lien as each installment is unpaid. Enforcement Foreclosure through execution. STATE TAX LIENS Validity Certificate of indebtedness issued to circuit clerk. Limitations 10 yrs after issuance of certificate Priority Superior to all later liens MUNICIPAL LIENS Validity To correct unsanitary condition Limitations Lien filed w/in 120 days after work Enforced w/in 3 years after work Priority Same as any other judgments ALCHOHOLIC BEVERAGE EXCISE TAX Validity 3% tax. Returns must be filed. Limitations 10 years Priority Superior to subsequent liens THANK YOU!
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