I'm in need of some advice and guidance regarding a recent land transfer and the process of obtaining a partial release of lien. I'll try to keep it concise, so here's what's been going on:
Background: Last week, my stepdad and I successfully completed the transfer of 8 acres of land from my parents to my wife and me. We are trying to use this land as equity to purchase a manufactured home to put on the land.
Issue: However, we recently received an email from our lender stating that a partial release of lien is required for the 8.225 acres to clear things up. We were aware of potential liens on the property, but we didn't anticipate this specific complication.
Questions: I'm curious if anyone has experience with obtaining a partial release of lien and how challenging the process can be? I've read that it may vary based on the lienholder's cooperation and the required
Any Advice is Welcome: We would greatly appreciate any insights, experiences, or advice from the Reddit community. Your expertise could make a significant difference for us as we navigate this process.
Thank you all in advance for your time and support. Your input means a lot to us, and we're looking forward to your responses.
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source https://www.reddit.com/r/RealEstate/comments/156jfk6/seeking_advice_on_obtaining_a_partial_release_of/
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