5 days ago · What is a lien sale? A lien is a legal claim against real property for unpaid property taxes or other property charges, including the interest due on the taxes and charges. The sale will transfer the unpaid liens to an authorized buyer.

What is a lien sale? All overdue water and sewer charges are considered a lien against your property. The City has the authority to sell this lien to a third party, or lienholder, in a process called a lien sale. The following property types are eligible:

Aug 4, 2023 · What Are Lien Sales? A lien sale is a public auction held when a property owner fails to pay debts related to the property. The lien serves as collateral for the debt, allowing the lienholder to recover their money if the debtor defaults. Lien sales follow specific legal procedures to ensure fairness and legality, regulated by state and local laws.

If you receive a notice, you should take one of the following steps to avoid having your property sold in the lien sale: Pay the amount you owe; Enroll in a payment plan or deferral program; Apply for a property tax exemption; Submit a Lien Sale Easy Exit Program application for a residential property; Request military debt relief

Jan 18, 2024 · What Is a Lien Sale? A lien sale is the sale of the claim—or a hold—placed on an asset to satisfy an unpaid debt. Typically, lien sales are conducted as public...

Mar 24, 2025 · The tax lien sale has been shown to disproportionately impact owners in communities of color and lower-income communities. A report by the Coalition for Affordable Homes found nearly two-thirds of the lien sales sold in the 2021 sale were in areas where over half of owners identified as non-white or Hispanic. Over one-fourth of the lien sales ...

Feb 1, 2025 · A lien sale can significantly impact property ownership and investment strategies, making it essential to grasp its mechanics and outcomes. This article examines various aspects of lien sales, detailing how they function and their effects on stakeholders.

Apr 9, 2025 · The primary purpose of lien sales and auctions is to allow creditors to recover the money owed to them by selling the debtor's property. These sales are often governed by specific laws and regulations, ensuring a fair and transparent process for both the debtor and the creditor.

The NYC lien sale process can place homes in jeopardy, but there are ways to prevent it. Homeowners may qualify for property tax exemptions (such as for seniors, people with disabilities, and veterans) or can set up payment plans to avoid their debt being sold in a lien sale. Homeowners must apply for exemptions or payment plans before May 19 ...

Oct 17, 2024 · Lien sales are a legal process that allows creditors to sell property to recover debts when borrowers default on their financial obligations. Lien sales can involve various property types, including vehicles, real estate, personal belongings, and storage unit contents.