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North Carolina Complaint to Enforce Possessory Lien on Motor Vehicle

North Carolina Complaint to Enforce Possessory Lien on Motor Vehicle

Name: North Carolina Complaint to Enforce Possessory Lien on Motor Vehicle
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.77 (258 reviews)

Category:

North Carolina Civil Procedure - Small Claims - Motor Vehicle Liens

State:

North Carolina

Control #:

NC-CVM-203

Format:

Instant download

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Public form

Description

Complaint to Enforce Possessory Lien on Motor Vehicle: This is an official form from the North Carolina Administration of the Courts (AOC), which complies with all applicable laws and statutes. USLF amends and updates the forms as is required by North Carolina statutes and law.

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FAQ

Once a non-mortgage lien is placed on your home, the holder of the lien can choose to take one of two routes.For example, property tax liens may sometimes be foreclosed outside of court, while the holder of a mechanics' liens must typically sue the homeowner in court in order to foreclose.

A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A lien could be established by a creditor or a legal judgement. A lien serves to guarantee an underlying obligation, such as the repayment of a loan.

When a contractor files a mechanics' (construction) lien on your home, the lien makes your home into what's called security for an outstanding debt, which the contractor claims is due and unpaid for services or materials.

When a lien is foreclosed upon, the lienholder forces the sale of the property so he or she is paid the portion of the proceeds from the sale that he or she is owed.

A lien foreclosure action is a lawsuit to foreclose the mechanics lien. The lien claimant must file a lien foreclosure action within 90 days of the date that he or she recorded the mechanics lien. Often a lien claimant with a valid claim will fail to follow through, making the lien invalid.

To enforce the lien, the contractor must file a lawsuit within 90 days from the date of recording the lien. If this deadline is passed, the contractor may not be able to enforce the lien and may be required to remove the lien.

There are two different types of liens that an individual may have over real property: specific and general. A specific lien is granted only with respect to a particular asset. In foreclosure, the specific asset is the real property that is subject to the foreclosure.

Pay off your debt. Fill out a release-of-lien form and have the lien holder sign it. Run out the statute of limitations. Get a court order. Make a claim with your title insurance company. Learn more:

North Carolina Complaint to Enforce Possessory Lien on Motor Vehicle

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FAQ

Can a lien holder foreclose on a property?

What Lien means?

What happens when a mechanics lien is filed?

What does it mean to foreclose on a lien?

What is a lien foreclosure action?

How are mechanic's liens enforced?

What is the difference between a lien and foreclosure?

How do you stop a lien?

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