Owning property is an exhilarating feeling. It is a culmination of a good life, so one can look back and be proud of their achievements. However, sometimes this dream can be shattered because of certain technical snags that most people don’t know about and this is where the problems begin.
When it comes to property and owners’ rights, it is important to understand what is an encumbrance on a property title. So, before we proceed, let’s dig a little deeper and find out what encumbrance actually means and how it affects the owner and their rights in their property.
To put it in simple words, encumbrance is a claim against a property by someone who does not own that piece of land. In fact, it can impact its value to the owner including transferability of the property, restricting the owner from using it until the encumbrance is lifted.
Moreover, several types of encumbrances apply to real estate, including easements, mortgages, and property tax liens.
So, it won’t be wrong to say that an encumbrance on a property title is a legal matter, restricting the transfer or usage of a property. Rest assured that it is quite rare that a property is free of any kind encumbrances. Also, it is not necessary that an encumbrance always involves money. However, to better understand tax lien encumbrances it is also important to know what tax liens mean.
What does tax liens mean?
Tax lien is a legal term which basically means that a property tax debt is attached to your property. A simple way to think of a tax lien is any unpaid taxes on a piece of land from the date they are due until they are paid.
However, the topic of a tax lien is not as simple. Tax liens are a specialized field, and it would be better to hire an expert especially those who are familiar with tax liens and tax lien foreclosures.
Hiring experts is the way to go
An expert can explain and guide you through issues like tracking and monitoring the tax liens on property or negotiating with tax assessments officials etc. It is a good idea to get a tax lien attorney to handle the legal matters as they are aware of the procedure and property tax laws, they can guide you through the entire process. Besides that, a tax lien attorney will not only explain the process but will also help you with tax lien foreclosure.
An attorney is aware of the full picture and therefore can propose solutions to property tax problems that are acceptable by all parties involved. A proficient tax lien attorney will help increase tax assessments, loss and recovery of the mortgaged property at tax sales as well as subordination of mortgage interests to tax liens among other things. Once the tax lien is resolved you don’t have to worry anymore. Your hassle-free property is a good investment for a secure future.
To know more about what an encumbrance on a property title is, make sure to hire a professional real estate tax lien attorney who can guide you through the process. Visit LewisMcDaniels and get in touch with an expert Maryland tax lien attorney.