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06-04-2009, 12:08 PM #1
Renter
- Join Date
- Jun 2009
- Posts
- 1
Selling Land with a Lien, OH
I am currently in a situation where my mother and I want to sell property with a lien on it because of back taxes. I was wondering if I can sell property while it has a lien on it at the same time. What I mean is since we owe money towards the lien, can we revert the profit we make towards the lien and keep the rest?
Micah Riley
Cleveland, OH
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06-08-2009, 08:56 PM #2
Fixer Upper
- Join Date
- Nov 2008
- Location
- Oregon
- Posts
- 80
Unless there's some weird going on's over there in OH, the answer is yes.
The exact purpose of a lien is to ensure *if* the property sells, the entity placing the lien gets paid out of the proceeds before the owner.
Your spot on. Although, the title company will disburse the funds to the lien holder prior to ever giving you the difference most likely, so it'll take care of itself at closing.property management software - Free software for managing your rentals
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Property is the best investment nowdays. So in my opinion you can think one more time before selling.
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