Omaha, NE asked in Divorce and Real Estate Law for Nebraska

Q: Does a subordination of real estate lien hold up the selling of property, until paid?

Related Topics:
2 Lawyer Answers
Anthony M. Avery
PREMIUM
Anthony M. Avery pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
Answered

A: It can and should, as the grantee does not want the lien against his real property. It may have a second priority, but it is still a lien. If the grantee wants two liens against his property, then he can accept the deed with those encumbrances.

Julie Fowler agrees with this answer

Julie Fowler
Julie Fowler
Answered
  • Omaha, NE
  • Licensed in Nebraska

A: It certainly can. It depends on your specific real estate transaction. Selling a home is much different than selling a factory and there isn't enough info in your question to know about this specific transaction. That being said, assuming this is the sale of a home, you generally must pay off all liens as part of the terms of the sale. Most buyers won't buy a home that will continue to have a lien on it after the sale is complete. The contract will often require that the seller pay off all liens as part of the sale of the home. Generally these liens don't hold up the sale of the real estate so long as the proceeds of the sale of the home are enough that the liens are paid off at closing.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.