Picture this, you recently sent over a transaction to your favorite title company. Two week close, cash transaction, and everything is going smoothly. Then, it comes, the transaction update from the Escrow Officer: 5 Potential State of Ohio Judgement Liens in the Seller’s Name. Nooooo!!!!
If you know, you know. It takes a very, very long time to receive determination from the State of Ohio Department of Taxation whether a lien is or is not your party and if it is your party, be provided with a payoff. Currently they are taking 6-8 weeks to process these requests. The State processes them in the order they were received and will not rush requests.
If the length of time to get a response was not enough of a hindrance, often the reason the liens are showing is simply due to a customer have a common name. When it does happen to be our customer, many times they indicate they never knew the lien existed. Frustrating to say the least.
So, what’s the good news? We have found some luck with customers reaching out directly to the state and paying them beforehand if it is their lien. There is both a website and a phone number they can call.
1-888-301-8885
If they have a copy of the lien in front of them, the website will prompt them to create an account and asks for specific information regarding the lien that a representative at the phone number should be able to guide them through. If the lien is theirs, they should be able to pay it online to the Attorney General and provide proof to the title company.
Also, if they pay the lien, the Attorney General will send to them a Lien Release and Satisfaction that they can have recorded with the clerk of courts. If the lien is not them, then the lien will not be connected to the account they create and thus they will not be able to pay.
Perhaps they can ask the title company call with them and hear that directly from an Attorney General Representative that the lien is not theirs? Depending on the size of the lien and the situation, the title company may have a different approach. Patience and working together is key!
Hope this additional State of Ohio Department of Taxation resource helps you or your client in the future!
- emily32347
- Dec 28, 2024
Did you know that having a will does not mean that probate will be avoided? Not everyone has the foresight to plan for the inevitable, but I think we can all agree, we do not want our love ones to have to deal with probate court when we are gone.
So, if a will is not a mechanism of transferring your property without the need for probate, what tools are?
Here are the tools we recommend:
Adding an Additional Person to Title - If you are in title alone on your property, you can add a second person as a co-owner in title with survivorship verbiage. With the survivorship verbiage, if either of you were to pass before the other, that person's interest in the property will transfer easily to the survivor.
Ensuring your Current Deed contains Survivorship Verbiage - a simple search on your county's recorders site should reveal a copy of your current deed. The phrase to look for or have added if it is not present: “for their joint lives, remainder to the survivor of them.”
Transfer on Death Designation Affidavit - Current Owner can designate one or more beneficiaries to their property upon their death.
Transferring your Property into a Trust- this tool is more complicated as it involves the creation of a trust. The trust should name a Successor Trustee that can act on behalf of the trust after you pass.
All of the above mechanisms involve an attorney preparing the document, you and any current owners signing the document, and the recording of the document at the county you reside in.
Upon your death, your surviving loved ones, designated beneficiaries, or successor trustee would simply sign an affidavit prepared by an attorney that would get recorded at the county along with an original death certificate. This would easily transfer the property to the Surviving Owner, Designated Beneficiaries, or Successor Trustee of your Trust without the need for Probate.
So why create a will? A will is useful in making sure your wishes are followed after you pass and your assets are distributed accordingly. If it is necessary for probate to be opened because beneficiaries of all your assets are not named, a will does make the process much smoother.
Please pass this on to your loved ones and clients! If you need help with any tools mentioned above, call or email us - we are happy to assist with this! As always, if you are unsure what is the best tool for your circumstances, we highly recommend consulting an Estate Planning Attorney and a tax professional.
From experience in the title and escrow field, it is such a relief to buyers, sellers, agents, and us when tools are in place ahead of time. Probate is costly and time consuming.
See below, this is a good rule of thumb and visual to share!
