What is a Divorce Lien
What is a Divorce Lien?
When you get a divorce often all the money in a relationship is tied up in the family home. In order to split the assets as agreed between the parties or by a court order one person can get a divorce lien on the home.
A Lien is basically a “Note”. A note is a promise that the person keeping the house has to pay the other person money at some point or according to a schedule.
The “Note” is secured by a mortgage which is placed on the family home or other real estate.
So for the sake of example, If the husband were to stay in the home and get complete ownership through the settlement, but the wife had a right to half the value of the home, then she could get a divorce lien on the home. This is basically the same thing as a mortgage.
If you are looking to sell a divorce lien or have a client who needs to, then give us a call or fill out the contact form on the left side of this blog.
