There are some details in the lien information to pay attention to:
Business debtor and individual debtor
- This can happen in the case of a co-signer. If a business goes bankrupt, to avoid not getting money they might add an individual debtor.
- Shows how long the lien is valid for and provides you details to see when the lien was registered.
- If they are not done paying at the end of the term or refinance, then even though its expired, the lien company can take another one out.
- Tells you who provided the lien – typically a financial institution.
- The company who registered the lien.