Different liens on the same property usually have priorities according to the time of their creation. To achieve the subordination of a prior lien, there must be an actual agreement to that effect.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
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Senior liens are those with the highest priority (often, but not always, the first lien recorded on a property), to be paid back in full before other liens are paid.
The kind of liens that can directly affect your personal property include mortgage, judgment, attachment, estate tax, Federal tax, bail bond, municipal utility and vendor's liens but can also include corporate franchise tax (if you own a business), mechanic's or vendee's (if you work in the building industry).
In the state of Washington, a judgment lien will remain attached to a person's property for ten years. The ability of a creditor to collect under a judgment lien can be affected by several factors.
Chapters 60.04Mechanics' and materialmen's liens.60.72Landlord's lien for rent.60.76Lien of employees for contributions to benefit plans.60.80Lien for unrecorded utility charges.60.84Lien on dies, molds, forms, and patterns.23 more rows
If any supplier of materials, a worker or subcontractor is not paid, a lien may be filed against your property to force you to pay the debt. You could end up paying twice for the same work. Or worse, an unpaid lien could lead to foreclosure on your home.
A lien must be recorded by the county auditor's office where the project itself took place; if the project spanned across county lines, the lien must be filed in all associated county auditors' offices.
