In the world of real estate, there is another type of concern when it comes to the term "lien." Construction liens are a common issue in the industry, as any party involved in providing goods or services on a job site can file a formal lien on the property if they are not paid. This includes contractors and suppliers who may not have been paid by the homeowner or general contractor. It's important to ensure that everyone is paid what they are owed and that sworn statements and lean waivers are used to manage payment.
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The foreclosure process involves a sheriff sale where the property is auctioned off, and after this sale, there is a redemption period during which the property owner can still do what they want with the property.
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Powers of Attorney can vary in scope, some may allow only simple actions, while others may grant broad authority over finances and properties.
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