What is an equitable lien in real estate?
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What is an equitable lien in real estate?
equitable lien. n. a lien on property imposed by a court in order to achieve fairness, particularly when someone has possession of property which he/she holds for another.
Can a lien be placed on a homestead property in Florida?
A Florida homestead property is generally exempt from civil judgment liens. However, you can always voluntarily place a lien on your homestead property.
Do liens expire in Florida?
Information You Should Know Liens are valid for five years from the original filing date. Florida law allows judgment liens to be filed a second time to extend the lien’s validity five more years.
How long are you legally responsible for a debt?
Limitations on debt collection by state
| State | Written contracts | Oral contracts |
|---|---|---|
| California | 4 years | 2 years |
| Colorado | 6 years | 6 years |
| Connecticut | 6 years | 3 years |
| Delaware | 3 years | 3 years |
How long before a debt becomes uncollectible?
between three and six years
Does unpaid debt ever go away?
Will Unpaid Debt Ever Go Away On Its Own? (Yes, But Don’t Hold Your Breath.) Once the statute of limitations for a debt has passed, it becomes uncollectible. But in the meantime, it can still do lots of financial damage.
Can I be chased for an old debt?
Creditors aren’t allowed to keep chasing a debt that is statute barred if they haven’t been in touch with you at all during the six year limitation period, but they can keep asking you for payments if they’ve been in regular contact. They can still do this even if the limitation period has passed.
What legal action can you take if someone owes you money?
If someone owes you $10,000 or less, then you can sue in a California small claims court. If you are owed more than $10,000, you can still sue in small claims, but you have to waive any additional amount you are owed. You would like to sue in small claims but the limit is $10,000.
How do I get a collection removed?
Typically, the only way to remove a collection account from your credit reports is by disputing it. But if the collection is legitimate, even if it’s paid, it’ll likely only be removed once the credit bureaus are required to do so by law.
