QUESTION
How can I get a lien removed from my property? In 2004 I received a loan from my company to purchase a home in Colorado. I repaid the loan in 2006.
Asked on Mar 21st, 2012 on Real Estate - Colorado
More details to this question:
and assumed the lien was vacated. When I recently applied to refinance the home I was told that the lien still existed. An even though I produced a copy of the cashed check this was not sufficient to vacate the lien according to my title company. The company that I worked for has gone out of business in 2009 and there is no one available to remove the lien. What is my next recourse as I cannot sell the property or refinance it until the lien is removed?
1 ANSWER
Construction Law Attorney serving Greenwood Village, CO
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Cyrus Rajabi, Attorney at Law
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Dear Dennis,
Ordinarily, in the state of Colorado, a loan in connection with real property is secured with a deed of trust. The easiest method to get the "lien" removed in the case you have described is to find one of the former officers or directors of the Company who has authority to execute documents in connection with the dissolution of the company. This former officer or director could, assuming authority issues are addressed, execute a "release of deed of trust," which could then be recorded to release the "lien" from the record.
If the Company is unable to locate the original note, you may need to go through the process of a lost note and deed of trust bond or, if you're unable to identify an authorized party or the Company is unwilling to cooperate, you may have to pursue judicial or other methods to have the matter cleared from the record.
Please note this response is general in nature and is not legal advice. No attorney client relationship is formed by it. Further, the response does not represent the opinions or views of LexisNexis or its affiliated companies.
I hope this helps.
Kind regards, Cyrus Rajabi
Answered on Jun 01st, 2012 at 2:24 PM