What Is A Release-Of-Lien Document And Why Is It Important During A Property Transaction Process?

A release-of-lien document is crucial for property transactions, providing legal proof that previous claims or debts against the property have been satisfied. This document ensures a smooth transfer of ownership and protects both buyer and seller from potential complications arising from unresolved claims or debts.

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What Is A Lien Holder In Property Transactions?

A lien holder refers to an individual or organization with a legal claim on a property due to an outstanding debt owed by the property owner. This claim impacts property transactions, as it ensures the lien holder has certain rights over the property until the debt is fully repaid.

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