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The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some states may take up to three months for a paper title to be produced after an electronic lien release, though this is uncommon. [citation needed] Implementation in the United States
A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property, it is called by various names, including, generically, construction lien.
A mortgage lien is a specific, voluntary lien. The priority of the liens on a property determines which debt will be repaid first in the event of default and foreclosure. The best way to avoid ...
A tax lien is a lien which is imposed upon a property by law in order to secure the payment of taxes. A tax lien may be imposed for the purpose of collecting delinquent taxes which are owed on real property or personal property, or it may be imposed as a result of a failure to pay income taxes or it may be imposed as a result of a failure to ...
Lien waiver. In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials supplier, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property (of the owner) for the amount paid.
Texas Fund Trapping Notice. In Mechanics lien law a Texas Fund Trapping Notice is a preliminary notice that parties on construction projects who are not directly contracted with the owner send in order to preserve the right to file a mechanics lien in the event of nonpayment in Texas. This document is called a Fund Trapping Notice because its ...
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