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This document provides detailed instructions for filing a motion to strip a junior lien on real property in the context of Chapter 13 bankruptcy proceedings, including steps for valuation, service

How to fill out instructions for strip lien

How to fill out Instructions for Strip Lien Motions

1. Gather all necessary documents related to the lien.
2. Identify the appropriate court where the motion will be filed.
3. Fill out the motion form with accurate details about the property and lien characteristics.
4. Include an explanation of why the lien should be stripped, citing relevant laws or codes.
5. Attach supporting evidence, such as proof of ownership and value of the property.
6. Review the filling for accuracy and completeness.
7. Submit the motion to the court along with any required filing fees.
8. Serve copies of the motion to all parties involved in the lien.
9. Prepare for a court hearing, if required, to present your case.

Who needs Instructions for Strip Lien Motions?

1. Homeowners facing financial difficulties who need to remove a second mortgage or lien.
2. Individuals undergoing bankruptcy proceedings seeking to eliminate unsecured liens.
3. Real estate investors wanting to clear title for properties with multiple liens.

People Also Ask about

What is the purpose of a lien release?

When you borrow money to purchase a car, the lender files a lien on the vehicle with the state to insure that if the loan defaults, the lender can take the car. When the debt is fully repaid, a release of the lien is provided by the lender.

What is lien stripping in chapter 13?

Lien stripping in Chapter 13 bankruptcy is a process that allows you to eliminate a junior lien (such as second or third mortgage) from your real estate. You can strip a junior mortgage (and the associated lien) if the house is worth less than the balance of the senior mortgage.

What does it mean to strip a lien?

During lien stripping , the court directs a lender to remove a lien from your property. This converts your second mortgage (a secured debt) into an “unsecured debt”.

What is lien stripping?

A Motion to Avoid Judicial Lien is a motion your bankruptcy attorney can file in bankruptcy court to remove an involuntary judgment lien from your house or other property after you have completed bankruptcy.

How much does it cost to remove a lien on property?

Cost of Removing a Lien from Real Estate Attorney fees can be a few hundred dollars to several thousand. Court costs could be as little as $50 or add up to several hundred dollars. You may also have to pay the county recorder's office a recording fee to have the lien release document recorded.

For pdfFiller’s FAQs

What is Instructions for Strip Lien Motions?

Instructions for Strip Lien Motions are guidelines provided to assist individuals in filing a motion to remove or 'strip' a lien from a property, typically in a bankruptcy context.

Who is required to file Instructions for Strip Lien Motions?

Debtors who wish to eliminate a second or subsequent mortgage lien on their property in a bankruptcy proceeding are required to file Instructions for Strip Lien Motions.

How to fill out Instructions for Strip Lien Motions?

To fill out Instructions for Strip Lien Motions, one must provide detailed information about the property, the mortgage liens involved, and the justification for stripping the lien, typically through a provided form or template.

What is the purpose of Instructions for Strip Lien Motions?

The purpose of Instructions for Strip Lien Motions is to provide a structured process for debtors to seek the removal of certain liens on their property, allowing for a clearer path toward financial relief.

What information must be reported on Instructions for Strip Lien Motions?

Information that must be reported includes the debtor's contact information, details of the lien(s) being stripped, property valuations, and the reasons supporting the motion to strip the liens.