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Lien
An
encumbrance on a property title/deed that must be paid or
resolved prior to a sale. For example, if you do not pay
your property taxes, the county will place a lien on your
property that states you cannot legally sell the property
until your property taxes are paid. In most cases, never
attempt to purchase any property that includes a lien,
especially without a real estate attorney.
Mechanics Lien
One
of the most common types of liens.
It is caused by failure to pay a contractor for
services rendered on a property. For example, if you had
your kitchen remodeled but never paid the plumber, he could go
to the county courthouse and put a mechanic's lien on your
property. Then if you ever attempted to sell the
property, this lien would need to be reconciled before anyone
could legally take possession of the house.
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