Title Search- Do Irs Liens, Judgements, Etc Get Recorded?
Hi,
I understand that to do a title search you want to examine the chain of title. But for IRS liens, mechanics liens, judgements, etc... do they get recorded the same way, at the recorder of deeds? If I do a search on the PIN, does all that info come up...or do I have to look elsewhere for that information?
In most cases the title company will come up with all judgemnts and liens. Here are examples of when they don't show up:
1) property in different county or state
2) property in trust, LLC, Corp, Ect.
3) If a women, different last name
4) name spelled wrong
these are the most common reasons that I've ran across
Lori
[addsig]
Well some of them do and some of them don't.
For example Mechanics liens will certainly be recorded because the guy that did the work knows the address where he did it and can file a lien against the address easily.
But if I had a personal judgement against you i might or might not record that judgement against some investment property across town of which I am unaware.
The good news is that if the lien is not recorded it does not encumber the transfer of title and the lienholder must look elsewhere to collect his money.
On the other hand if someone else had a judgement against you which they had not recorded against your investment property I might go buy their judgement (at a discount of course), record it on that investment property and begin to foreclose on the lein. I would probably be junior to your first mortgage but I could, theoretically collect in this way.