Motion To Avoid Lien Form With 2 Points

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Multi-State
Control #:
US-03348BG
Format:
Word; 
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Description

The Motion to Avoid Lien form is a legal document used by debtors seeking to eliminate a judicial lien against their property under the Bankruptcy Code. This form is particularly beneficial for individuals who have filed for bankruptcy and wish to assert exemptions for their assets while eliminating unnecessary financial burdens from liens. It outlines the jurisdiction of the court, details about the debtor's filed bankruptcy petition, and specifics regarding the property and lien in question. A critical feature of this form is its formula for calculating whether the lien impairs the debtor's exemptions based on existing liens and the property value. Attorneys and legal professionals must ensure accurate completion to facilitate the motion's success. Filling instructions include providing the required personal and property information, detailing the basis for valuing the property, and methodically calculating impairment. The target audience for this form includes attorneys, paralegals, and associates who assist debtors in bankruptcy proceedings, as well as legal assistants who may handle the documentation process. It's essential for these users to understand both the legal context and the precise requirements of the form to ensure effective advocacy for their clients.
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FAQ

A common example of an involuntary lien is a tax lien. A tax lien is issued by the government when taxes are owed. If you avoid paying income taxes or property taxes on your home, the Internal Revenue Service (IRS) will file an involuntary lien to alert creditors that they have a right to your property.

Specific Lien ? A claim against a specific piece of property; only that individual property may be used to collect against the debt. Voluntary Lien ? A lien in which a borrower puts up their property as collateral for a loan. Involuntary Lien ? One used when the property owner did not give their express consent.

A lien is an encumbrance that makes property security for the payment of a debt or discharge of an obligation. The Registrar-Recorder/County Clerk (RR/CC) serves notification by mail to debtors when an involuntary lien is recorded against them. An involuntary lien is a lien that a property owner did not sign.

Here are a few ways to remove the lien: Invalidate the lien. If the lien is invalid or was obtained in a manner that doesn't follow the procedural requirements under the law, an attorney may be able to strip the lien from the property. ... Satisfy the debt. ... Negotiate a lower payoff. ... File for bankruptcy.

Request a Release-of-Lien Form ? After paying off the balance of your debt in full, the creditor will file a release-of-lien form. This will act as evidence that the debt has been paid and will formally release the lien from your property.

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Motion To Avoid Lien Form With 2 Points