Lien & Title Company ?
My husband closed a deal, and the title company held back money for a lien my husband could not get a release for. The lend holder is Out Of Business. How can my husband get a lien taken off a property if a company is gone out of business?
Im sure the final decision depends upon the amount of the lien. Im assuming it must be quite a bit or you would have paid it. But I think you can force a lien holder via some method? to file a lawsuit or drop the lien, you would need to research that. The draw back would be the time involved.
Just because the lien holder is out of business doesnt mean they will drop the lien or the claim isnt valid. Hell, if they thought the previous owner was a cause of going out of business, they may never settle. Im sure they would still need the money also, so i doubt they write it off. Good luck
No one can locate the owner of the lien. How can you remove the lien. I was a payday loan company.
Talk to an attorney about filing a motion to Quiet Title
In Florida, a process exists to exempt homestead property from liens of that nature. You may ask an attorney if a homestead exemption of this nature exists in Illinois.
Was the property the homestead (principal residence) of the seller?