Pharmacy Technician

Lien Search

This Lien Search article is from MLQ Attorney Services, an attorney services firm in Atlanta, Georgia

A lien search is essential when you are considering the purchase of property or a business. There are number of different types of lien, including a property, tax and business lien, each of which is an encumbrance of debt on the asset.

A lien is basically a security against finance or an unpaid debt.  In the case of a property lien this could be a mortgage or a loan secured on the property. A property lien could also be a security against payment of extensive work carried on the property. A business is a similar security on your business.  A tax lien is a security on property in lieu of non-payment of taxes and passes on with the property:  it is normally paid when the property is sold, but if the previous owner fails to pay the overdue tax when the property is sold it becomes the responsibility of the new owner.

A lien search is therefore essential if you are purchasing property or a business, and the law regarding liens, and the priority of multiple liens on a property, is so complex that a lawyer’s advice is necessary.  In a nutshell, you are advised not to purchaser a property or business with an existing lien unless an attorney has so advised you after careful consideration of the nature of the lien.

When it comes to carrying out the search, lien records are open for public inspection, sometimes online without charge. However, if a lien is found professional advice must be taken to determine the necessary action required to deal with any aspect of the lien search.

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