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An assignment is the transfer of a legal interest. In its most basic form, one party (the Assignor) agrees to sell and/or transfer its legal interest in something to a third party (the Assignee). The parties will typically draft a separate purchase agreement for the asset to be assigned. The assignment will then be executed by the parties once the sale is complete.
Tax lien assignments
Assignments are very common in many different areas of law and finance. Probably the two most common types of real estate related assignments are assignments of a mortgage/deed of trust or a purchase contract assignment (e.g., wholesalers). Just as the rights under a promissory note or under a purchase agreement can be assigned, a tax sale certificate can assign his or her tax lien.
There are many different reasons why an investor may assign a tax lien. For example, an investor may purchase a tax lien hoping that the property redeems so that they can recoup their investment, plus the interest that accrued. If the property does not redeem, and the investor does not want the property, he or she can assign the tax sale certificate and tax lien to another investor. The new tax sale certificate holder then assumes all of the rights under the tax certificate, including the right to foreclose and to take title to the property upon the judgment. Importantly, the new certificate holder also assumes the right to collect the refund (plus interest) upon redemption of the property.
The assignment agreement is a private agreement between the two parties and the assignment price may be for more or less than the redemptive value of the tax lien. Once an agreement is reached an Assignment of Tax Sale Certificate is executed. The new holder must then notify the County (and the court, if applicable) and may record the assignment among the County land records.
Contact Attorney Ryan Lewis to schedule a free consultation
The Law Office of Ross W. Albers would like to introduce our newest team member, Ryan D. Lewis, of O’Connell, Doyle & Lewis, LLC. With this addition, we now offer new options for real property tax liens, foreclosures, landlord/tenant disputes, and multiple other real estate law issues. Ryan D. Lewis brings a vast array of real estate law knowledge which allows him to identify and quickly adapt to your legal issue. Which, minimizes your risk and when combined with his ability to leverage your asset protection, can increase your wealth through your investment.
Mr. Lewis, as well as the rest of our team , is committed to guiding you through the entire process of a tax lien purchase. We want to see your investment grow and benefit you as well as help you with any legal issue that arises throughout the process. Give the Law Office of Ross W. Albers a call today and start working with the leading Maryland tax lien attorney.
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Lien Assignment Process and Procedure
The lien assignment process almost always begins with the owner’s mortgage lender (i.e. bank) commencing a foreclosure on its first deed of trust. Prior to the bank proceeding to foreclosure sale, it must submit a bid to the Public Trustee’s office. At that time, investors review the bank’s bid and determine if they would be interested in paying off the bank in exchange for acquiring the property. This is usually about the same time that investors obtain title work on the property and contact the association, its management company or our office to inquire about the potential purchase of the association’s lien. Most investors realize that even if no recorded lien exists, the association still may have an assignable lien by operation of Colorado Common Interest Ownership Act.
Assuming the investor gets in touch with our office (whether directly or following a referral from the manager or association), our firm will contact the board or management company for an updated ledger on the property. We then review the ledger and add in any time that may have been written off because of a bankruptcy and additional attorney fees that are not yet reflected on the ledger. We use this information to formulate a lien sale price. In some instances we will attempt to sell the lien for more than the total amount owed, but we always assign the lien for at least payment in full through the current month. Following an agreement with an investor to purchase the lien, our office processes the lien sale through the execution of a lien assignment document. This document sets forth the legal rights and obligations between the investor and the association and allows the investor to acquire property through a redemption process.
If the lien is sold, the association receives payment in full (or occasionally, more than payment in full) and the investor receives all rights associated with the association’s lien. The investor takes the completed lien assignment to the Public Trustee and files what is known as an Intent to Redeem. This document tells the Public Trustee that the investor has purchased the association’s lien and corresponding right to redeem at the Public Trustee’s sale. The investor then tenders payment to the Public Trustee for all amounts owed to the foreclosing lender. This process is known as redemption.
Following a successful redemption, the investor will take title to the property and will be issued a Public Trustee’s Deed. This Deed confirms that the investor now owns the property. It is important to remember that the Public Trustee’s Deed is sometimes issued several weeks after the investor actually takes legal title to a property. Technically, legal title transfers once all applicable redemption periods expire. Associations should contact our office if there are any questions about the actual date that a title transferred to an investor.
Usually, investors that acquire association liens through the lien assignment process are interested in rehabilitating the property and reselling it relatively quickly. However, during the time the investor owns the property, he or she is subject to all the same covenants as any other owner, including the obligation to pay assessments.
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What Is a Lien?
How liens work, types of liens, what is a lien on my house, what does a lien mean, how do i get rid of a lien.
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Lien: Three Main Types of Claim Against and Asset
A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A creditor or a legal judgment could establish a lien. A lien serves to guarantee an underlying obligation, such as the repayment of a loan. If the underlying obligation is not satisfied, the creditor may be able to seize the asset that is the subject of the lien. There are many types of liens that are used to secure assets.
- A lien is a claim or legal right against assets that are usually used as collateral to satisfy a debt.
- The creditor may be able to seize the asset that is the subject of the lien.
- Bank, real estate, and tax are three types of liens.
- If a contract on a property is not paid, the lender has a legal right to seize and sell the property.
- Various types of liens can be established including by a creditor, legal judgment, or tax authority.
Investopedia / Dennis Madamba
A lien provides a creditor with the legal right to seize and sell the collateral property or asset of a borrower who fails to meet the obligations of a loan or contract. The owner cannot sell the property that is the subject of a lien without the consent of the lien holder. A floating lien refers to a lien on inventory or other unfixed property.
Liens can be voluntary or consensual, such as a lien on a property for a loan. However, involuntary or statutory liens exist whereby a creditor seeks legal action for nonpayment. As a result, a lien is placed on assets, including property and bank accounts.
Some liens are filed with the government to let the public know that the lienholder has an interest on the asset or property. A lien's public record tells anyone interested in purchasing the asset or collateral that the lien must be released before the asset can be sold.
There are many types of liens and lien holders. Liens can be put in place by financial institutions, governments, and small businesses. Below are some of the most common liens.
A lien is often granted when an individual takes out a loan from a bank to purchase an asset. For example, if an individual purchases a vehicle, the seller would be paid using the borrowed funds from the bank. In turn, the bank would be granted a lien on the vehicle. If the borrower does not repay the loan, the bank may execute the lien, seize the vehicle, and sell it to repay the loan.
If the borrower does repay the loan in full, the lien holder (the bank) then releases the lien, and the individual owns the car free and clear of any liens.
A judgment lien is a lien placed on assets by the courts, which is usually a result of a lawsuit. A judgment lien could help a defendant get paid back in a nonpayment case by liquidating the accused's assets.
A mechanic's lien can be attached to real property if the owner fails to pay a contractor for services rendered. If the debtor never pays, the contractor could go to court and get a judgment against the non-paying party whereby property or assets can be auctioned off to pay the lien holder. Many service providers have the option to place a lien to secure payment, including construction companies and dry cleaners.
Real Estate Lien
A real estate lien is a legal right to seize and sell real estate property if a contract is not fulfilled. Some real estate liens are automatically put in place, such as in the case of a mortgage lien. When a party borrows money from a bank to purchase their home, the bank places a lien on the house until the mortgage is paid off.
However, some real estate liens are due to non-payment to a creditor or financial institution and as a result, are involuntary and nonconsensual liens.
There are also several statutory liens, meaning liens created by law instead of those created by a contract. These liens are very common in the field of taxation, where laws often allow tax authorities to put liens on the property of delinquent taxpayers. For example, municipalities can use liens to recover unpaid property taxes .
In the United States, if a taxpayer becomes delinquent and does not demonstrate any indication of paying owed taxes, the Internal Revenue Service (IRS) may place a legal claim against a taxpayer's property, including the taxpayer's home, vehicle, and bank accounts. A notice of federal tax lien notifies creditors of the government's claim and can lead to a sheriff's sale . A sheriff's sale is a public auction whereby assets are repossessed, sold, and the generated funds are used to repay a debt to a creditor, bank, or the IRS.
A tax lien also affects the taxpayer's ability to sell existing assets and obtain credit. The only way to release a federal tax lien is to fully pay the tax owed or reach a settlement with the IRS. The IRS has the authority to seize a taxpayer's assets who ignore a tax lien. Typically, the IRS uses liens for delinquent taxes as a last resort, following all other options being exhausted, such as collection, installment repayment plans, and settlement.
When you buy a house using a mortgage, the lender has a legal right to seize your property, if you don't pay the mortgage. Your house basically is the collateral for the mortgage loan and when you borrow money to buy it, a mortgage lien is put on your house, until you pay off your mortgage.
A lien is simply the legal right of a lender to sell your property (a house or a car, for example) if don't meet your contractual obligations on the loan you took out to purchase it.
You can get rid of a lien on your property, car, or other asset by paying off your loan in full.
Internal Revenue Service. " Understanding a Federal Tax Lien ."
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A right given to another by the owner of property to secure a debt, or one created by law in favor of certain creditors.
A lien is an encumbrance on one person's property to secure a debt the property owner owes to another person. The statement that someone's property is "tied up" describes the effect of liens on both real and Personal Property . Lien is a French word meaning "knot or binding" that was brought to Britain with the French language during the Norman Conquest in 1066.
Real Estate Liens
In many states a mortgage is regarded as a lien, not a complete transfer of title, and if not repaid the debt is recovered by foreclosure and sale of the real estate. Real estate is also affected by liens that favor local, state, and federal governments for real estate taxes and special assessments; state and federal governments for income and sales or use taxes; condominium and homeowners' associations; and general contractors, subcontractors, material suppliers, and laborers for the value of work or materials installed on real estate. The filing requirements and statutes of limitations for these liens vary according to the law of each state.
Perhaps the riskiest move a purchaser of real estate can make is to buy without making certain that there are no liens on the property or without obtaining title insurance against liens on the property. In many states liens are secret: that is, they are hidden from the public records until required to be filed.
The priority of liens on a construction project relates back to the first visible commencement of the work. This line of law makes the last work, perhaps landscaping, equal in priority to the first, excavating. This means that during the entire work of construction, the owner must obtain waivers of lien from each subcontractor and material supplier. Without these waivers the real estate is subject to liens of all such claimants, if the general contractor, though paid in full, fails to pay them. A waiver is a voluntary relinquishment of a known right. Waivers of lien must be in writing, give a sufficient description of the real estate, and be signed by the one claiming a lien. No payment need be made if the claimant agrees to release the land from the lien and rely only on the credit of the owner or general contractor for payment of the debt.
Lien claimants are protected in this way because all their materials and labor are "buried" in the real estate, having become part of it. They cannot be reclaimed without irreparable damage to the property. Unlike mortgage liens, the liens of these claimants, called mechanic's liens, offer no redemption in a foreclosure judgment.
The published statutes of a state usually have a section on the topic of liens under which is listed most or all of the liens allowed by state law. A great number of persons in trade or business obtain liens for their services to personal property: garage keepers and warehouse owners for unpaid rent for storage; automobile mechanics for repairs; jewelers; dry cleaners and furriers; artisans for restoration of art objects; bankers; factors dealing in commodities; and many others. Not to be outdone, attorneys have a lien for their fees and may retain clients' files—perhaps containing vital information or documents needed by the client for work or family affairs—until the fees are paid.
A judgment lien can, when entered by a court after a suit, affect all the real and personal property of one who fails to pay a debt, such as a promissory note to a bank, credit card balance, or judgment for injury the person may have caused. In some states the lien of a properly docketed judgment affects all the debtor's property in every county where notice of the judgment is filed. State law governs the length of time such liens survive—which in some states is as long as ten years. Judgments can be enforced by executions and sale of property until the amount due is satisfied.
Courts of Equity have the power to create so-called equitable liens on property to correct some injustice. For example, one whose money was embezzled may obtain a lien on the wrongdoer's property by suing for a Constructive Trust .
Discharging a Lien
Liens are discharged after a certain length of time. The requirements for commencing their foreclosure vary among the states. If a person pays and satisfies a lien, she should be careful to obtain a written, legally sufficient release or satisfaction, and file or record it in the appropriate government office, so that her title and credit reports no longer show the encumbrance.
Title Search .
n. any official claim or charge against property or funds for payment of a debt or an amount owed for services rendered. A lien is usually a formal document signed by the party to whom money is owed, and sometimes by the debtor who agrees to the amount due. A lien carries with it the right to sell property, if necessary, to obtain the money. A mortgage or a deed of trust is a form of lien, and any lien against real property must be recorded with the county recorder to be enforceable, including an abstract of judgment which turns a judgment into a lien against the judgment debtor's property. There are numerous types of liens including: a mechanic's lien against the real property upon which a workman, contractor or supplier has provided work or materials, an attorney's lien for fees to be paid from funds recovered by his/her efforts, a medical lien for medical bills to be paid from funds recovered for an injury, a landlord's lien against a tenant's property for unpaid rent or damages, a tax lien to enforce the government's claim of unpaid taxes, or the security agreement (UCC-1) authorized by the Uniform Commercial Code. Most liens are enforceable in the order in which they were recorded or filed (in the case of security agreements), except tax liens which have priority over the private citizen's claim. (See: judgment debtor , mechanic's lien , mortgage , deed of trust , landlord's lien , equitable lien )
An agent has a lien on the goods and chattels of his principal in respect of all claims arising out of his employment as an agent. The lien entitles the agent to detain goods in his possession belonging to his principal until all the legitimate claims of the agent have been satisfied. In connection with moveable property, a lien is the right of an agent or bailee to retain possession of a chattel entrusted to him until his claim has been paid; in relation to land, a vendor has a lien over the land for unpaid purchase money. Liens are either particular, as, for example, a right to retain a thing for some charge or claim arising out of or in connection with the thing, like that of a garage proprietor, or general, as, for example, a right to retain a thing not only for such charges or claims but also for a general balance of accounts between the parties in respect of other dealings of a like nature, such as the solicitor's lien.
The unpaid seller of goods who is in possession of the goods is entitled to retain possession of them until payment or tender of the price. This lien exists only where the buyer becomes insolvent. The seller may exercise his lien or right of retention notwithstanding that he is in possession of the goods as agent or bailee or custodier for the buyer. In order to exercise his lien, the seller must be in possession of the goods. He does not lose possession merely because he gives temporary or limited control of goods to the buyer, e.g. to mark them or pack them in his own containers. The unpaid seller of goods loses his lien or right of retention in respect of the goods in three situations:
- (1) when he delivers the goods to a carrier or other bailee or custodier for the purpose of transmission to the buyer without reserving the right of disposal of goods;
- (2) when the buyer or his agent lawfully obtains possession of the goods;
- (3) a lien or right of retention may be lost by waiver.
On the dissolution of a partnership, each partner has a general lien on the firm's surplus assets; this lien arises out of a partner's statutory right to have the surplus assets (after payment of the firm's debts and liabilities) applied in payment of what may be due to the partners respectively (after deducting what may be due from them as partners to the firm).
In carriage of goods by road cases, the carrier has a right at common law to retain possession of goods until he is paid the freight owing to him for the carriage of the goods. In carriage of goods by sea cases, the carrier has a lien at common law not only in respect of the freight and general average contribution due in respect of the goods upon which he exercises the lien but also for sums due for freight and general average in respect of all the goods of the same owner in the same ship of the same voyage.
LIEN, contracts. In its most extensive signification, this term includes every case in which real or personal property is charged with the payment of any debt or duty; every such charge being denominated a lien on the property. In a more limited sense it is defined to be a right of detaining the property of another until some claim be satisfied. 2 East 235; 6 East 25; 2 Campb. 579; 2 Meriv. 494; 2 Rose, 357; 1 Dall. R. 345. 2. The right of lien generally arises by operation of law, but in some cases it is created by express contract. 3. There are two kinds of lien; namely, particular and general. When a person claims a right to retain property, in respect of money or labor expended on such particular property, this is a particular lien. Liens may arise in three ways: 1st. By express contract. 2d. From implied contract, as from general or particular usage of trade. 3d. By legal relation between the parties, which may be created in three ways; When the law casts an obligation on a party to do a particular act, and in return for which, to secure him payment, it gives him such lien; 1 Esp. R. 109; 6 East, 519; 2 Ld. Raym. 866; common carriers and inn keepers are among this number. 2. When goods are delivered to a tradesman or any other, to expend his labor upon, he is entitled to detain those goods until he is remunerated for the labor which he so expends. 2 Roll. Ab. 92; 3 M. & S. 167; 14 Pick. 332; 3 Bouv. Inst. n. 2514. 3. When goods have been saved from the perils of the sea, the salvor may detain them until his claim for salvage is satisfied; but in no other case has the finder of goods, a lien. 2 Salk. 654; 5 Burr. 2732; 3 Bouv. Inst. n. 2518. General liens arise in three ways; 1. By the agreement of the parties. 6 T. R.14; 3 Bos. & Pull. 42. 2. By the general usage of trade. 3. By particular usage of trade. Whitaker on Liens 35; Prec. Ch. 580; 1 Atk. 235; 6 T. R. 19. 4. It may be proper to consider a few, general principles: 1. As to the manner in which a lien may be acquired. 2. To what claims liens properly attach. 3. How they may be lost. 4. Their effect. 5.-1. How liens may be acquired. To create a valid lien, it is essential, 1st. That the party to whom or by whom it is acquired should have the absolute property or ownership of the thing, or, at least, a right to vest it. 2d. That the party claiming the lien should have an actual or constructive, possession, with the assent of the party against whom the claim is made. 3 Chit. Com. Law, 547; Paley on Ag. by Lloyd, 137; 17 Mass. R. 197; 4 Campb. R. 291; 3 T. R. 119 and 783; 1 East, R. 4; 7 East, R. 5; 1 Stark. R. 123; 3 Rose, R. 955; 3 Price, R. 547; 5 Binn. R. 392. 3d. That the lien should arise upon an agreement, express or implied, and not be for a limited or specific purpose inconsistent with the express terms, or the clear, intent of the contract; 2 Stark. R. 272; 6 T. R. 258; 7 Taunt. 278;. 5 M. & S. 180; 15 Mass. 389, 397; as, for example, when goods are deposited to be delivered to a third person, or to be transported to another place. Pal. on Ag. by Lloyd, 140. 6.-2. The debts or claims to which liens properly attach. 1st. In general, liens properly attach on liquidated demands, and not on those which sound only in damages; 3 Chit. Com. Law, 548; though by an express contract they may attach even in such a case as, where the goods are to be held as an indemnity against a future contingent claim or damages. Ibid. 2d. The claim for which the lien is asserted, must he due to the party claiming it in his own right, and not merely as agent of a third person. It must be a debt or demand due from the very person for whose benefit the party is acting, and not from a third person, although the goods may be claimed through him. Pal. Ag. by Lloyd, 132. 7.-3. How a lien may be lost. 1st. It may be waived or lost by any act or agreement between the parties, by which it is surrendered, or becomes inapplicable. 2d. It may also be lost by voluntarily parting with the possession of the goods. But to this rule there are some exceptions; for example, when a factor by lawful authority sells the goods of his principal, and parts with the possession under the sale he is not, by this act, deemed to lose his lien, but it attaches to the proceeds of the sale in the hands of the vendee. 8.-4. The effect of liens. In general, the right of the holder of the lien is confined to the mere right of retainer. But when the creditor has made advances on the goods of a factor, he is generally invested with the right to sell. Holt's N P. Rep. 383; 3 Chit. Com. Law, 551; 2 Liverm. Ag. 103; 2 Kent's Com. 642, 3d ed. In some cases where the lien would not confer power to sell, a court of equity would decree it. 1 Story Eq. Jur. Sec. 566; 2 Story, Eq. Jur. Sec. 1216; Story Ag. Sec. 371. And courts of admiralty will decree a sale to satisfy maritime liens. Ab. Sh. pt. 3, c10. Sec. 2; Story, Ag. Sec. 371. 9. Judgments rendered in courts of record are generally liens on the real estate of the defendants or parties against whom such judgments are given. In Alabama, Georgia and Indiana, judgment is a lien; in the last mentioned state, it continues for ten years from January 1, 1826, if it was rendered from that time; if, after ten years from the rendition of the judgment, and when the proceedings are stayed by order of the court, or by an agreement recorded, the time of its suspension is not reckoned in the ten years. A judgment does not bind lands in Kentucky, the lien commences by the delivery of execution to the sheriff, or officer. 4 Pet. R. 366; 1 Dane's R. 360. The law seems to be the same in Mississippi. 2 Hill. Ab. c. 46, s. 6., In New Jersey, the judgments take priority among themselves in the order the executions on them have been issued. The lien of a judgment and the decree of a court of chancery continue a lien in New York for ten years, and bind after acquired lands. N. Y. Stat. part 3, t. 4, s. 3. It seems that a judgment is a lien in North Carolina, if an elegit has been sued out, but this is perhaps not settled. 2 Murph. R. 43. The lien of a judgment in Ohio is confined to the county, and continues only for one year, unless revived. It does not, per se, bind after acquired lands. In Pennsylvania, it commences with the rendering of judgment, and continues five years from the return day of that term. It does not, per se, bind after acquired lands. It may be revived by scire facias, or an agreement of the parties, and terre tenants, written and filed. In South Carolina and Tennessee a judgment is also a lien. In the New England states, lands are attached by mesne process or on the writ, and a lien is thereby created. See 2 Hill. Ab. c. 46. 10. Liens are also divided into legal and equitable. The former are those which may be enforced in a court of law; the latter are valid only in a court of equity. The lien which the vendor of real estate has on the estate sold, for the purchase money remaining unpaid, is a familiar example of an equitable lien. Math. on Pres. 392. Vide Purchase money. Vide, generally, Yelv. 67, a; 2 Kent, Com. 495; Pal Ag. 107; Whit. on Liens; Story on Ag. ch. 14, Sec. 351, et seq: Hov. Fr. 35. 11. Lien of mechanics and material men. By virtue of express statutes in several of the states, mechanics and material men, or persons who furnish materials for the erection of houses or other buildings, are entitled to a lien or preference in the payment of debts out of the houses and buildings so erected, and to the land, to a greater or lessor extent, on which they are erected. A considerable similarity exists in the laws of the different states which have legislated on this subject. 12. The lien generally attaches from the commencement of the work or the furnishing of materials, and continues for a limited period of time. In some states, a claim must be filed in the office of the clerk or prothonotary of the court, or a suit brought within a limited time. On the sale of the building these liens are to be paid pro rata. In some states no lien is created unless the work done or the goods furnished amount to a certain specified sum, while in others there is no limit to the amount. In general, none but the original contractors can claim under the law; sometimes, however, sub-contractors have the same right. 13. The remedy is various; in some states, it is by scire facias on the lien, in others, it is by petition to the court for an order of sale: in some, the property is subject to foreclosure, as on a mortgage; in others, by a common action. See 1 Hill. Ab. ch. 40, p. 354, where will be found an abstract of the laws of the several states, except the state of Louisiana; for the laws of that state, see Civ. Code of Louis. art. 2727 to 2748. See generally, 5 Binn. 585; 2 Browne, R. 229, n. 275; 2 Rawle R. 316; Id. 343; 3 Rawle, R. 492; 5 Rawle R. 291; 2 Whart. R. 223; 2 S. & R. 138; 14 S. & R. 32; 12 S. & R. 301; 3 Watts, R. 140, 141; Id. 301; 5 Watts, R. 487; 14 Pick. P,. 49; Serg. on Mech. Liens.
PARTICULAR, LIEN, contracts. A right which a person has to retain property in respect of money or labor expended on such particular property. For example, when a tailor has made garments out of cloth delivered to him for the purpose, he is not bound to part with the clothes until his employer, has paid him for his services; nor a ship carpenter with a ship which he has repaired; nor can an engraver be compelled to deliver the seal which he has engraved for another, until his compensation has been paid. 2 Roll. Ab. 92; 3 M. & S. 167; 14 Pick. 332; 3 Bouv. Inst. n. 2514. Vide Lien.
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What Is a Tax Lien? How It Works, How to Stop One
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Tax liens are serious business if you owe back taxes. Here’s how they can affect you, as well as some tips for what to do to remove a tax lien.
What is a tax lien?
A tax lien is a legal claim a government places on real estate or other assets when the owner is past due on taxes. The IRS can place a lien on a person's current home, car, and bank account, as well as any future property they acquire. Municipalities may sell tax liens to investors who pay the tax bill in return for the right to collect the money and interest from property owners.
If you don’t take care of a federal tax lien, a tax levy — an actual seizure of property to pay taxes owed — could come next. Tax levies can include things such as garnishing your wages or seizing assets and bank accounts.
What does it mean if you have a tax lien?
If you owe back taxes and the IRS places a federal tax lien, here’s what could happen next.
Your creditworthiness could take a nosedive. Tax liens may not appear on credit reports anymore , but the IRS can still file a public notice of the tax lien, telling creditors the government has a right to your property. That could jeopardize your ability to get a loan, says David Klasing, a CPA and tax attorney in Irvine, California.
It can jeopardize a home sale or refinancing. Tax liens often surface during title searches. If you have equity in a house you’re trying to sell or refinance, you’ll likely have to use some of it to pay your taxes in order to close.
It can cost you a lot of time. The IRS funnels many overdue taxpayers into its automated collection system, or ACS, which can mean spending hours on hold with the call center, Klasing warns. Some taxpayers might be assigned to a revenue officer, which could mean in-person visits, he adds.
You can end up with a tax levy. If you don’t pay your back taxes after the IRS files a federal tax lien, the IRS may then issue a Notice of Intent to Levy.
How to get a tax lien removed
The easiest way to get a tax lien removed is to pay the outstanding tax bill in full. Once your payment is processed, the IRS will remove the tax lien within 30 days.  Internal Revenue Service . Understanding a Federal Tax Lien . View all sources There are some other options to consider as well:
Get on an IRS payment plan
Your tax balance will still accrue interest and penalties until it’s paid off, but if you allow the IRS to take at least three consecutive payments right out of your bank account (called a direct debit installment agreement), you might be able to get the IRS to withdraw the federal tax lien from public record.  Internal Revenue Service . Understanding a Federal Tax Lien . Accessed May 3, 2023. View all sources (You’ll still have to pay your tax debt, of course.) You don’t necessarily need to hire anyone to get on an IRS payment plan — you can apply right on the IRS website. Fees run from $0 to $225 depending on the plan and your income.
Ask for an offer in compromise
An OIC, or offer in compromise , is an offer to settle your back taxes for less than the full amount you owe. There are lots of rules, and the IRS typically accepts fewer than half of the applications it gets in a year.  Internal Revenue Service . 2022 IRS Data Book . View all sources To even be considered, you need to have filed all of your tax returns, plus make the required estimated tax payments for the current year. You also won’t be considered if you’re in bankruptcy or are being audited.
File an appeal
You can ask for a collection due process hearing from the IRS Office of Appeals if you want a review of a lien or levy notice. Also, if you disagree with an IRS employee’s decision about a lien or levy, you can ask for a conference with the employee’s manager and ask the Office of Appeals to review your case.  Taxpayer Advocate Service . Taxpayer Requests Collection Appeals Program . Accessed Sep 16, 2022. View all sources
It’s not a pretty option, but in some cases, it can get rid of tax debt. However, it’s often a long process, there are a lot of rules and it doesn’t always work, Klasing warns.
» MORE: Tax relief and resolution: 5 ways to deal with tax debt
On a similar note...
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U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS (2010)
- Part 1. General Provisions
[Subpart 1. Short Title, Definitions, and General Concepts]
- § 9-101 . SHORT TITLE.
- § 9-102 . DEFINITIONS AND INDEX OF DEFINITIONS.
- § 9-103 . PURCHASE-MONEY SECURITY INTEREST; APPLICATION OF PAYMENTS; BURDEN OF ESTABLISHING.
- § 9-104 . CONTROL OF DEPOSIT ACCOUNT.
- § 9-105 . CONTROL OF ELECTRONIC CHATTEL PAPER.
- § 9-106 . CONTROL OF INVESTMENT PROPERTY.
- § 9-107 . CONTROL OF LETTER-OF-CREDIT RIGHT.
- § 9-108 . SUFFICIENCY OF DESCRIPTION.
[Subpart 2. Applicability of Article]
- § 9-109 . SCOPE.
- § 9-110 . SECURITY INTERESTS ARISING UNDER ARTICLE 2 OR 2A.
- Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement
[Subpart 1. Effectiveness and Attachment]
- § 9-201 . GENERAL EFFECTIVENESS OF SECURITY AGREEMENT.
- § 9-202 . TITLE TO COLLATERAL IMMATERIAL.
- § 9-203 . ATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST; PROCEEDS; SUPPORTING OBLIGATIONS; FORMAL REQUISITES.
- § 9-204 . AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES.
- § 9-205 . USE OR DISPOSITION OF COLLATERAL PERMISSIBLE.
- § 9-206 . SECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL ASSET.
[Subpart 2. Rights and Duties]
- § 9-207 . RIGHTS AND DUTIES OF SECURED PARTY HAVING POSSESSION OR CONTROL OF COLLATERAL.
- § 9-208 . ADDITIONAL DUTIES OF SECURED PARTY HAVING CONTROL OF COLLATERAL.
- § 9-209 . DUTIES OF SECURED PARTY IF ACCOUNT DEBTOR HAS BEEN NOTIFIED OF ASSIGNMENT.
- § 9-210 . REQUEST FOR ACCOUNTING; REQUEST REGARDING LIST OF COLLATERAL OR STATEMENT OF ACCOUNT.
- Part 3. Perfection and Priority
[Subpart 1. Law Governing Perfection and Priority]
- § 9-301 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS.
- § 9-302 . LAW GOVERNING PERFECTION AND PRIORITY OF AGRICULTURAL LIENS.
- § 9-303 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY A CERTIFICATE OF TITLE.
- § 9-304 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNTS.
- § 9-305 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.
- § 9-306 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHTS.
- § 9-307 . LOCATION OF DEBTOR.
- § 9-308 . WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED; CONTINUITY OF PERFECTION.
- § 9-309 . SECURITY INTEREST PERFECTED UPON ATTACHMENT.
- § 9-310 . WHEN FILING REQUIRED TO PERFECT SECURITY INTEREST OR AGRICULTURAL LIEN; SECURITY INTERESTS AND AGRICULTURAL LIENS TO WHICH FILING PROVISIONS DO NOT APPLY.
- § 9-311 . PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT TO CERTAIN STATUTES, REGULATIONS, AND TREATIES.
- § 9-312 . PERFECTION OF SECURITY INTERESTS IN CHATTEL PAPER, DEPOSIT ACCOUNTS, DOCUMENTS, GOODS COVERED BY DOCUMENTS, INSTRUMENTS, INVESTMENT PROPERTY, LETTER-OF-CREDIT RIGHTS, AND MONEY; PERFECTION BY PERMISSIVE FILING; TEMPORARY PERFECTION WITHOUT FILING OR TRANSFER OF POSSESSION.
- § 9-313 . WHEN POSSESSION BY OR DELIVERY TO SECURED PARTY PERFECTS SECURITY INTEREST WITHOUT FILING.
- § 9-314 . PERFECTION BY CONTROL.
- § 9-315 . SECURED PARTY'S RIGHTS ON DISPOSITION OF COLLATERAL AND IN PROCEEDS.
- § 9-316 . CONTINUED PERFECTION OF SECURITY INTEREST FOLLOWING CHANGE IN GOVERNING LAW.
[Subpart 3. Priority]
- § 9-317 . INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF UNPERFECTED SECURITY INTEREST OR AGRICULTURAL LIEN.
- § 9-318 . NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD; RIGHTS AND TITLE OF SELLER OF ACCOUNT OR CHATTEL PAPER WITH RESPECT TO CREDITORS AND PURCHASERS.
- § 9-319 . RIGHTS AND TITLE OF CONSIGNEE WITH RESPECT TO CREDITORS AND PURCHASERS.
- § 9-320 . BUYER OF GOODS.
- § 9-321 . LICENSEE OF GENERAL INTANGIBLE AND LESSEE OF GOODS IN ORDINARY COURSE OF BUSINESS.
- § 9-322 . PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN AND AGRICULTURAL LIENS ON SAME COLLATERAL.
- § 9-323 . FUTURE ADVANCES.
- § 9-324 . PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS.
- § 9-325 . PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL.
- § 9-326 . PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR.
- § 9-327 . PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT.
- § 9-328 . PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.
- § 9-329 . PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHT.
- § 9-330 . PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT.
- § 9-331 . PRIORITY OF RIGHTS OF PURCHASERS OF INSTRUMENTS, DOCUMENTS, AND SECURITIES UNDER OTHER ARTICLES; PRIORITY OF INTERESTS IN FINANCIAL ASSETS AND SECURITY ENTITLEMENTS UNDER ARTICLE 8.
- § 9-332 . TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT.
- § 9-333 . PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW.
- § 9-334 . PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS.
- § 9-335 . ACCESSIONS.
- § 9-336 . COMMINGLED GOODS.
- § 9-337 . PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY CERTIFICATE OF TITLE.
- § 9-338 . PRIORITY OF SECURITY INTEREST OR AGRICULTURAL LIEN PERFECTED BY FILED FINANCING STATEMENT PROVIDING CERTAIN INCORRECT INFORMATION.
- § 9-339 . PRIORITY SUBJECT TO SUBORDINATION.
[Subpart 4. Rights of Bank]
- § 9-340 . EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SET-OFF AGAINST DEPOSIT ACCOUNT.
- § 9-341 . BANK'S RIGHTS AND DUTIES WITH RESPECT TO DEPOSIT ACCOUNT.
- § 9-342 . BANK'S RIGHT TO REFUSE TO ENTER INTO OR DISCLOSE EXISTENCE OF CONTROL AGREEMENT.
- Part 4. Rights of Third Parties
- § 9-401 . ALIENABILITY OF DEBTOR'S RIGHTS.
- § 9-402 . SECURED PARTY NOT OBLIGATED ON CONTRACT OF DEBTOR OR IN TORT.
- § 9-403 . AGREEMENT NOT TO ASSERT DEFENSES AGAINST ASSIGNEE.
- § 9-404 . RIGHTS ACQUIRED BY ASSIGNEE; CLAIMS AND DEFENSES AGAINST ASSIGNEE.
- § 9-405 . MODIFICATION OF ASSIGNED CONTRACT.
- § 9-406 . DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE.
- § 9-407 . RESTRICTIONS ON CREATION OR ENFORCEMENT OF SECURITY INTEREST IN LEASEHOLD INTEREST OR IN LESSOR'S RESIDUAL INTEREST.
- § 9-408 . RESTRICTIONS ON ASSIGNMENT OF PROMISSORY NOTES, HEALTH-CARE-INSURANCE RECEIVABLES, AND CERTAIN GENERAL INTANGIBLES INEFFECTIVE.
- § 9-409 . RESTRICTIONS ON ASSIGNMENT OF LETTER-OF-CREDIT RIGHTS INEFFECTIVE.
- Part 5. Filing
[Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement]
- § 9-501 . FILING OFFICE.
- § 9-502 . CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT.
- § 9-503 . NAME OF DEBTOR AND SECURED PARTY.
- § 9-504 . INDICATION OF COLLATERAL.
- § 9-505 . FILING AND COMPLIANCE WITH OTHER STATUTES AND TREATIES FOR CONSIGNMENTS, LEASES, OTHER BAILMENTS, AND OTHER TRANSACTIONS.
- § 9-506 . EFFECT OF ERRORS OR OMISSIONS.
- § 9-507 . EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF FINANCING STATEMENT.
- § 9-508 . EFFECTIVENESS OF FINANCING STATEMENT IF NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT.
- § 9-509 . PERSONS ENTITLED TO FILE A RECORD.
- § 9-510 . EFFECTIVENESS OF FILED RECORD.
- § 9-511 . SECURED PARTY OF RECORD.
- § 9-512 . AMENDMENT OF FINANCING STATEMENT.
- § 9-513 . TERMINATION STATEMENT.
- § 9-514 . ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD.
- § 9-515 . DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING STATEMENT.
- § 9-516 . WHAT CONSTITUTES FILING; EFFECTIVENESS OF FILING.
- § 9-517 . EFFECT OF INDEXING ERRORS.
- § 9-518 . CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD.
[Subpart 2. Duties and Operation of Filing Office]
- § 9-519 . NUMBERING, MAINTAINING, AND INDEXING RECORDS; COMMUNICATING INFORMATION PROVIDED IN RECORDS.
- § 9-520 . ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.
- § 9-521 . UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT.
- § 9-522 . MAINTENANCE AND DESTRUCTION OF RECORDS.
- § 9-523 . INFORMATION FROM FILING OFFICE; SALE OR LICENSE OF RECORDS.
- § 9-524 . DELAY BY FILING OFFICE.
- § 9-525 . FEES.
- § 9-526 . FILING-OFFICE RULES.
- § 9-527 . DUTY TO REPORT.
- Part 6. Default
[Subpart 1. Default and Enforcement of Security Interest]
- § 9-601 . RIGHTS AFTER DEFAULT; JUDICIAL ENFORCEMENT; CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, OR PROMISSORY NOTES.
- § 9-602 . WAIVER AND VARIANCE OF RIGHTS AND DUTIES.
- § 9-603 . AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES.
- § 9-604 . PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES.
- § 9-605 . UNKNOWN DEBTOR OR SECONDARY OBLIGOR.
- § 9-606 . TIME OF DEFAULT FOR AGRICULTURAL LIEN.
- § 9-607 . COLLECTION AND ENFORCEMENT BY SECURED PARTY.
- § 9-608 . APPLICATION OF PROCEEDS OF COLLECTION OR ENFORCEMENT; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.
- § 9-609 . SECURED PARTY'S RIGHT TO TAKE POSSESSION AFTER DEFAULT.
- § 9-610 . DISPOSITION OF COLLATERAL AFTER DEFAULT.
- § 9-611 . NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
- § 9-612 . TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
- § 9-613 . CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: GENERAL.
- § 9-614 . CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: CONSUMER-GOODS TRANSACTION.
- § 9-615 . APPLICATION OF PROCEEDS OF DISPOSITION; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.
- § 9-616 . EXPLANATION OF CALCULATION OF SURPLUS OR DEFICIENCY.
- § 9-617 . RIGHTS OF TRANSFEREE OF COLLATERAL.
- § 9-618 . RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.
- § 9-619 . TRANSFER OF RECORD OR LEGAL TITLE.
- § 9-620 . ACCEPTANCE OF COLLATERAL IN FULL OR PARTIAL SATISFACTION OF OBLIGATION; COMPULSORY DISPOSITION OF COLLATERAL.
- § 9-621 . NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL.
- § 9-622 . EFFECT OF ACCEPTANCE OF COLLATERAL.
- § 9-623 . RIGHT TO REDEEM COLLATERAL.
- § 9-624 . WAIVER.
[Subpart 2. Noncompliance with Article]
- § 9-625 . REMEDIES FOR SECURED PARTY'S FAILURE TO COMPLY WITH ARTICLE.
- § 9-626 . ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE.
- § 9-627 . DETERMINATION OF WHETHER CONDUCT WAS COMMERCIALLY REASONABLE.
- § 9-628 . NONLIABILITY AND LIMITATION ON LIABILITY OF SECURED PARTY; LIABILITY OF SECONDARY OBLIGOR.
- Part 7. Transition
- § 9-701 . EFFECTIVE DATE.
- § 9-702 . SAVINGS CLAUSE.
- § 9-703 . SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE.
- § 9-704 . SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.
- § 9-705 . EFFECTIVENESS OF ACTION TAKEN BEFORE EFFECTIVE DATE.
- § 9-706 . WHEN INITIAL FINANCING STATEMENT SUFFICES TO CONTINUE EFFECTIVENESS OF FINANCING STATEMENT.
- § 9-707 . AMENDMENT OF PRE-EFFECTIVE-DATE FINANCING STATEMENT.
- § 9-708 . PERSONS ENTITLED TO FILE INITIAL FINANCING STATEMENT OR CONTINUATION STATEMENT.
- § 9-709 . PRIORITY.
- Part 8. TRANSITION PROVISIONS FOR 2010 AMENDMENTS
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Assignment regarding Lien definition
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Examples of Assignment on Lien in a sentence
The municipality will execute, also return to the County, an Assignment of Lien naming "Cook District, Illinois” as assignee.
On Allow 5, 2009, an Assignment of Security (“Assignment”) was executed over an Agent of JPMC, as purchaser of lending real other assets of WaMu from the FDIC, both he recorded the Assignment in who authentic property records of Dallas County, Texas.
After Wells Fargo filed its initial proof of claim, Debtor’s counsel notified Wells Fargo’s counsel that the Assignment of Lien , dateless October 30, 2000, “pre-dates the notarized signature of .
There is no real dispute ensure the Deed off Vertrauen and related security documents were properly filed and recorded under Texas rights; they bear which November 16, 2000 file stamp of the County Clerk of Jack County, Texas.2 Claim No. 1‐1 also attached an Assignment of Loan , dated October 30, 2000, pursuant to which Mortgage Factory, Inc.
Week/Unit/Contract # Owner(s) Notice Address Lien - Green Administrative Clerk Document# Assignment of Mortgage – Orange County Clerk Document # Amount Reset by Liens At Lump 18/004020 Contract #M0232558 DEBORAH BRENNAN 84 VICTORY RD, HOWELL, NJ 07731 20180479366 20180479367 $2,258.27 $0.00 24/000440 Contract #M0254033 MARK J.
Assignment of Lien to Purchaser: The borrower may assign the debts to a purchaser of the characteristics who agrees to assume the borrower’s our fixed by the lien.
The Appointment of Lien form is located in Section III starting the Endorsement Instructions of the Basic Manual and the common T‐3 form is used.
Einer assignee of a note can either purchase a RECORDING showing the assignee as the named insured, or receive an Assignment of Lien Endorsement to the initial loan policy.
The Ahead Note was: (i) assigned by Ahead Lender to Bank pursuant to that certain Assignment of Lien and Bank Documents dated of uniformly date herewith, executed by Prior Lender, for assignor, and Slope, for assignee and (ii) endorsed to be payable to Bank by to that definite Allonge to Promissory Note dateless of even date herewith, conducted by Previously Lender.
The Policy can be issued go an assignee of the original lienholder, in whichever case the Date of Policy will be and date on which to Assignment of Lien was filled.
Related till Assignment of Lien
Assignment off Hires furthermore Rental With respect to any Mortgaged Property, any assignment of leases, rents and gains or similar instrument finished through the Obligor, assigning to the lender all of to earned, rents and winners derived from the corporate, operation, leasing with disposition to all or a portion of such Hocked Property, whether in into the Mortgages or in a document separate from of Mortgage, in this form that was duly executed, acknowledged and delivered, as amended, modified, extended or extended through the date hereof and from time to time hereafter at accordance with the Credit and Collection Policy.
Assignment of Rental With respect at any Mortgaged Property, any assigned of leases, rent and profits or similar agreement executed by the Mortgagor, assigning to one mortgagor every of the income, rents and profits derived from the ownership, operation, rent otherwise disposition of all or ampere section of such Mortgaged Property, in the form which was duly executed, acknowledged and delivered, as amended, modified, renewed oder extensive over the event hereof and from while to length hereafter.
Assignment from Lease means the Assignment of Lease, Rents and ------------------- Guarantee dated the of the Release Date from an Lessor to the Collateral Factor for the benefit of the Securityholders also the Certificate Holders, as amended, supplemented or others modified from wetter to time in accordance with to terms thereof or of any others Operative Agreement.
Assignment of Draft average, with real to each Property, that certain first priority Mapping of Agreements, Licenses, Permits and Contracts dates as regarding the date hereof, from aforementioned applicable Borrower, as allocator, to Lender, as assignee, assigning to Lender as security for the Loan, to the extent assignable under lawyer, all von such Borrower's interest in and to the Management Agreement, provided any, and all other licencing, permits and purchase necessary for of make and operation about create Property, as the just may be amended, restated, replaced, supplemental or otherwise revised from time to time.
Assignment of Mortgage An assignment of the Mortgage, notice of transfers or equivalent instrument int recordable form, suffi under the laws of the jurisdiction wherein the related Mortgage Property is located to reflect the sale of the Mortgage in one Shopper.
Collateral Assignment Deal has the meaning set forth in Section 9.05.
Collateral Assignment does, with respectful to any Contracts, the original instrument of collateral assignment of such Contracts by this Company, as Seller, to the Collateral Agent, substantially in aforementioned form included into Exhibit A hereto.
Collateral Assignments means, collectively, the Association a the Development Agree, and the Assignment of Management Agreement, the Assignment of the Right to Acquire Tax Credits, Capital Contributions and Partnership Interests, each in form and substance satisfactory to the Significant Bondholder and one Pecuniary Monitor and as each may be amended oder supplemented starting dauer to time the the prior written consent of the Significant Bondholder.
Assignment of Proprietary Lease By respect on a Cooperative Loan, the mission of the related Cooperative Lease von the Mortgagor to the originator of of Cooperative Loan.
Assignment of Contracts shall have the meaning allotted thereto in Section 6.1(b)(iv).
Assignments also Conveyance An assignment and carrying of the Mortgage Loans buyed on an Closing Date in the form annexed hereto as Exhibit 4.
Assignment of Rents and Leases means, with respect to the Mortgaged Property, can Assignment for Rents the Rents (and, if there are more than one, each additionally per one of them), dated as starting the Closing Date, provided the the Borrower go Lender use respect to the Leases, as same maybe thereafter from time to time be supplemented, amended, modified or extended.
Allocation / job means the function to be performed through the Consultant pursuant to the Conclude.
IP Assignment Agreement has the meaning set forth in Section 2.5(a)(iv).
Assignment Agreements The ensuing Assignment, Assumption and Recognition Accord, each dated as are March 29, 2006, whereby certain Servicing Agreements solely with respect to the associated Mortgage Loans are assigned to the Depositor for the advantages of the Certificateholders:
Assignment the Conveyance Consent As defined in Subsection 6.01.
Assignment of Rentals means the input that transfers the beneficial equity under a kauf of trust from one lender/entity to additional.
Trademark Assignment Agreement has the meaning set forth in Section 2.5(b).
Lease Assignment has and meaning set forth in Section 3.5(d).
Lease Assignments means the assignments out real property leases and subleases per and between a become is that Nuance Group, as assignor, and adenine full of that SpinCo Group, as assignee, included each lawsuit as set forth on Schedule XV under the caption “Lease Assignments.”
IP Assignments an collateral task or security agreement pursuant to the into Defaulting grants a Lien the its Intellectual Property to Agent, as guarantee for its Obligations. IRS: an Unique States Internal Revenue Service.
Loan Assignment has the meant set going with which Purchase and Marketing Agreement.
Loaner Assignment Agreement means a Lenders Assignment Agreement substantially in the form are Exhibit D hereto.
Assignment/Amendment We reserve the right to change this Serving Agreement (including the price or to fees an optional fee) and to delegate any regarding Our obligations by Are sole discretion provides Us grant You thirtieth (30) days’ ahead spell notice of the change. An modification will become effective thirty (30) days after We submit You the notice. If You do not like the changes, You may cancel this Service Agreement. You might doesn change this Service Agreement instead representative any of Your obligations. Shoud certain terms or conditions on this Maintenance Agreements be hold to be invalid or unenforceable, the remainder of who terms or conditions in this Service Deal shall stays applicable. Transfer: This Service Discussion is doesn transferable by You. Responsibility for aids owed to You: Those is not an insurance procedure; it belongs a Service Agreement. HomeServe will serve as Your point-of-contact by all questions or concerns. Are obligations under this Technical Agreement are insured under a service contract reimbursement insurance corporate. If We fall to pay or to deliver service on ampere claim within sixty (60) days after proof of lose has been filed, or in the event You cancel this Service Agreement and We fail to issue any available refunded within sixty (60) days after nullification, Yourself are qualified on make a claim against the insurer, Virginia Surety Company, Inc., 000 Xxxx Xxxxxxx Xxxx., 11th Floor, Chicago, IL 60604, 0-000-000-0000. Our Liability: To the extent permitted by applicable law, (1) You agree that We and HomeServe, also both of and parents, heirs, affiliates, approved technicians and our plus their officers, directors, employees, affiliates, brokers and contractors shall not be liable to Thou or anyone else for: (a) any effective losses or direct damages that exceed the lowest geltendes by covered renovate benefit limit fix out above; or (b) any amount of any form of impeded, special, punitive, incidental or consequential harm other damages, including those caused by any fault, failure, delay other defected in provide services under this Service Agreement, and (2) these limitations also waives should apply to all damages and all liabilities both shall survive that cancellation conversely expiration for this Service Arrangement. You may have other user that vary from state to state. Arbitration: YOU, NU AND HOMESERVE ALL AGREE TO RESOLVE DISPUTES ONLY BY FINAL AND BINDING ARBITRATION OR IN SHORT CLAIMS COURT as follows:
Trademark Assignment has the sense sets forth in Section 3.2(c).
Assignment of Insurances shall can the meaning provided in the definition of “Collateral and Guaranty Requirements”.