Legal Question in Real Estate Law in Massachusetts
Property lien my construction com built a home I own the home is in a trust.i borrowed 300k from a friend who has died the new gate keepers want to foreclose here is my question can my corporation lien that property for material and labor never paid I owe them 300k but I have anoughther 500k in it the loan isn't a bank just a private lender who has died
2 Answers from Attorneys
Thanks for your question. I think you are going to need to sit down with an attorney and go through this scenario in greater detail. Is this your primary residence? Did you file a homestead declaration? Is this a mortgage or a mechanic's lien?
Your question requires a lot more information in order to answer your questions. First there is the need to determine the order of the liens. Second, if you closed on a Mortgage with a bank those liens should have been released, assuming the claim is for work done prior to the mortgage.
If you used a builder, he should have gotten releases from sub-contractors and if it is the builder that is another issue.
As to the $300K from a friend's estate, the issue is when is the note due.
Again, you need to take your records and sit down with an attorney
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