liens

[crshose]

What is the name of your state (only U.S. law)? Georgia

I have a lien on a property that I look to foreclose on, but it turns out that there is a second lien on it as well. Does the second have legal right to come after me if I foreclose and sell?

[JakeB]

Not unless you owe him money.

Well, I should add that you need to give him notice, or you could be liable.

[crshose]

What do you mean by giving notice, it is a bank that the individuals who were to get the property had put up for collateral for a business, so I have no ties to the bank.

[JakeB]

Originally Posted by crshose

What do you mean by giving notice, it is a bank that the individuals who were to get the property had put up for collateral for a business, so I have no ties to the bank.

You are obligated to give all interested parties notice that you are going to foreclose. Since the junior lien could be wiped out by your foreclosure, that lienholder is definitely an interested party.

[crshose]

thanks for the information