Definition of Lien:

Lien on Orange County Property:

Any legal claim of ownership that is listed on the title report of the home in Orange County as reported and insured by the ALTA-policy. Under most circumstances the first mortgage lien holder has the most important lien on a home as they are in the primary position, if any of the second or third mortgage holders or other lien holders want to foreclose on the property they have to pay-off the first mortgage (as well as any other lien that was recorded in front of them). In Orange County a Title Company, many times working in conjunction with an escrow company and mortgage banker, will investigate the title for liens that must be cleared before the buyer can legally own the home.

 

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