Liens, Liens and More Liens
By Doug Sisson, Probate and Bankruptcy Paralegal
Liens survive virtually everyone and everything until released by a creditor. Countless folks in Kansas and Missouri have consulted with W M Law after inheriting real estate and other large assets.
One of the biggest and least expected issues can be a lien against real property the heirs may not even be aware of until it is too late.
If a loved one received any sort of medical benefits from a government or private entity, chances are they are not only owed money, but have attached a lien to property either before or after death.
The most common debts liens include: Medicare/Medicaid benefits, assisted living or nursing home care, unpaid taxes, unpaid insurance benefits, and even old judgment liens stemming from a lawsuit less than 10 years ago. There are many options to satisfy or waive these liens, however they are not going anywhere unless you are aware of them and address them appropriately.
– If you are named as transfer on death or assigned a property from an estate, you are then liable for any debts associated with liens on the property. This is quite literally inheriting a debt.
– In Missouri and Kansas, a lien typically lasts 10 years, […]