Can One Move An Asset With A Lien Attached To It - Into The Trust
Typically an asset with a lien cannot be moved into a trust unless the trust will continue making payments on the loan. Both a vehicle and home can be sold with liens attached to the asset.
NOTE: A mortgage is not a lien, no lien is placed until a foreclosure proceeding has completed. A lien is a court-ordered claim against an individual recorded in the Public Records. A mortgage is a loan that has been secured by real estate. Typically a mortgage gives the lender the right to seize and sell your home if you default on the mortgage payments. A mortgage can become a lien if the mortgagor goes into default, but otherwise a mortgage is not technically a lien.
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