A 16 Year Old Lien?
If there is a lien on a property that is over 10 years old, what does the title company do?
Do they ignore the lien since it is past the 10 year limit, or what?
If there is a lien on a property that is over 10 years old, what does the title company do?
Do they ignore the lien since it is past the 10 year limit, or what?
What type of lien is it? If it's a judgment, it may have a specific "life." In PA, I believe that outstanding judgments have to be revived every couple of years in order to remain valid. I'd be interested in what a RE attorney tells you.
I'm not going to say what may be the situation in your state but I did a closing (as an agent) in a sale last year and there were some judgements and liens. The title co. said that they were past the statute of limitations and they ignored them.
Thank you for your answers. This judgement is in Florida for a hospital bill. The seller will never have the means to pay it, and it was placed in 1988. In Florida they have to renew at 10 years. The hospital did not.