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I have the ability to put lien on a property and sell it to c ollect a debt

ArizonaCollectionsLien on Funds

I lent money and the note gives me the right to put a lien on property and sell to to collect the debt what to I do to collect the money owed me

1 reply

Mar 30, 2020
If the contract gives you the right to lien the property, and you only loaned money and did not furnish labor or materials to improve the property, then the only lien rights you can have are a deed of trust or a mortgage. You would have to look at the contract language to determine which one you have. A deed of trust would allow you to sell the property without going to court - you just have to notice up a trustee's sale of the property. A mortgage means you would have to go through the judicial foreclosure process. Please note that if the liened property is the person's homestead, Arizona has a $150,000 homestead exemption, which means foreclosure of the lien would not yield any money to a creditor unless the debtor had at least $150,000 in equity.
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