Lien Payoff Request Form (rev-1038) In Palm Beach

State:
Multi-State
County:
Palm Beach
Control #:
US-0019LTR
Format:
Word; 
Rich Text
Instant download

Description

The Lien Payoff Request Form in Palm Beach is a critical document designed for individuals and professionals involved in real estate transactions and associated financing matters. This form facilitates the request for payoff information on loans secured by a lien against a property. Key features include sections to input the borrower's details, lender information, and the specifics of the requested payoff amount, including any accrued interest. It is essential to fill the form accurately to ensure that all parties are informed about the total payoff required. Users are encouraged to provide clear, detailed information to expedite the processing of the request. This form is particularly useful for attorneys who need to manage property transactions seamlessly, as well as for partners and owners who might be settling loans. Associates, paralegals, and legal assistants will find it helpful when preparing documents for real estate closings or negotiating settlements. The form also serves to clarify any outstanding payments and associated fees, thereby minimizing disputes related to loan payoffs.

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FAQ

Centralized Lien Operation — To resolve basic and routine lien issues: verify a lien, request lien payoff amount, or release a lien, call 800-913-6050 or e-fax 855-390-3530.

Yes, it happens. Sometimes a court decision or settlement results in a lien being placed on a property without the owner's immediate knowledge. This typically occurs when a court-ordered lien or certificate of judgment is issued against you and recorded at the county recordings office.

To ensure a proper payoff, sellers or closing agents must contact the lien holder or their attorney for an official payoff statement. This statement outlines the final payoff amount and includes details on principal balances, accrued interest, attorney's fees, and administrative costs.

A payoff request allows a third party to receive the current balance due to release a lien or facilitate a business transfer (bulk sale transfer or liquor license). To release a lien or facilitate a bulk sale transfer, businesses must be in good standing to receive a payoff request.

You can electronically record documents online (eRecording) or you can bring your original documents to the Main Courthouse, South County Courthouse, North County Courthouse, West County Courthouse, Royal Palm Beach branch or mail your documents.

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Lien Payoff Request Form (rev-1038) In Palm Beach