Find Help from Lien Release Attorneys in Lisle, IL Today

When a contractor or creditor puts a lien on your property, it can be stressful for any homeowner. The lien may come with certain legal stipulations and may impact your ability to sell the property while the lien is in effect. What happens when you have settled the debt, and the lien needs to be removed? There are a few things you should know about lien releases, which an experienced lien release lawyer will be able to guide you through from start to finish. With the help of lien release lawyers in Lisle, IL, take back your property with less hassle and stress.

What is a Lien Release?

A lien release means that the contractor or creditor who had previously placed a lien has removed it. Typically, a lien is placed when you owe a debt, with the lien acting as an incentive to make payments. Liens may be placed on your property by contractors you hire to do repairs or renovations on the property, the IRS when you owe unpaid taxes, and other creditors in certain scenarios. While a lien is meant as insurance that you will pay your debt, it is not something you want to keep around since it may impact your credit and overall property value. Once the debt is paid, the contractor or creditor should file a lien release with the state. If they do not file for a lien release, you may end up suing or countersuing them to have it removed. Whether you run into issues having a lien release filed or you need answers about what to expect, a lien release lawyer can be a great resource during this process.

What is the Difference Between a Lien Release and a Lien Waiver?

It is easy to confuse a lien release and waiver for those new to the process. A lien release means a lien was filed on your property to ensure you pay a debt, and then the lien was released. A waiver is a document prior to hiring a contractor to ensure they are unable to place a lien on your property or that the contractor waives their right to place a lien as collateral for payment. A lien waiver is more commonly used with contractors rather than creditors and is something you should discuss with the contractor prior to them starting any work on your property. It is important not to confuse these terms with the terms full release or partial release, which have different meanings. A full release means the contractor has released the full lien from the property, usually because the debt was paid in full, while a partial lien may be in place because the homeowner has paid most but not all of the debt related to the lien.

What is a Conditional Lien Release?

A lien release may be either conditional or unconditional. When a lien release is unconditional, it means that the lien is fully removed and cannot be reinstated by the contractor. If the lien release is conditional, it usually means that the homeowner cannot sell the house without making a potential buyer aware of the lien. A conditional lien is used to ensure that the homeowner will pay the contractor the final payment for the work they perform on the property. The terms of a lien should be communicated prior to it being filed with the state. Of course, if you are unsure about working with liens and contractors, the best bet is to speak with a lien release lawyer throughout the process to help ease your mind.

What if a Creditor Places a Lien on My Property?

While liens are more commonly used by contractors to ensure payment from homeowners, a lien may also be placed by creditors when a debt is owed. An example of this would be if you owe taxes and the IRS puts a lien (or a levy) on your house. This means you cannot sell the house until the debt is settled. It ensures that you do not pocket the money from selling your property rather than paying the government what you owe in taxes. In order to have the lien removed, you will need to pay the creditor, and then they will file a lien release with the state. If a creditor places a lien on your property, speaking with a lien release lawyer may be useful in understanding your options.

How Can a Lien Release Lawyer Help Me?

There are a few ways that a lien release lawyer may be able to help you. For starters, they will be able to answer your questions about the process using their knowledge of the legal system as it pertains to this topic. A lien release attorney understands contracts and state requirements related to both instating and releasing liens. They will also be able to help in the event that an issue arises related to the lien and work of the contractor. For example, if a contractor places a lien on your property but then never finishes the job as agreed upon, you may find yourself in need of an experienced lien release lawyer. At that point, your lien release attorney will fight for the lien to be released or nullified on your behalf. You may also need an attorney if a contractor places a lien even though they agreed to a lien waiver before the job started. There is a range of scenarios in which you may find a IRS tax settlement lawyer that will come in handy.

Get Started Today

No one wants a lien on their property. It is a hassle and adds to your stress. When the time comes for a lien release, be ready with reliable legal counsel on your side. Our team is here to help you take back your property from liens. Contact us today at (708) 575-1500 for a free consultation regarding your legal rights and concerns. We offer compassionate legal when you need it most.