How does a lien on someone's property work?

[BudDickman]

I've heard a couple say that even if Pat refuses to pay, Quasi could put a lien on his house. Does that mean that Quasi would have an equity stake of whatever percentage $24k is of the house today? So if the house is worth $300k, he would be entitled to 8% of whatever it sells for at some point in the future?

 

[1073waaf]

My guess would be closer to 4% since it’s only half a house.

 

[HotDogJoe]

I'm not quite sure. Let me ask my pal, Roger...

Hmm that seems to be his answer to everything.

 

[guest]

I've heard a couple say that even if Pat refuses to pay, Quasi could put a lien on his house. Does that mean that Quasi would have an equity stake of whatever percentage $24k is of the house today? So if the house is worth $300k, he would be entitled to 8% of whatever it sells for at some point in the future?

no, its not a percentage its just a set amount but it will increase over time with interest. when the house gets sold the liens have to get paid off before the owner gets paid. I don't know the rules in Wisconsin but lienholders can force a sale under certain circumstances, for instance if they set up a payment plan and he doesn't make the payment.

 

[RedGlareRecipient]

I don't know the rules in Wisconsin but lienholders can force a sale under certain circumstances, for instance if they set up a payment plan and he doesn't make the payment.

Would confessing on tape multiple times that you refuse to pay despite an official ruling count as “certain circumstances”?

 

[guest]

Would confessing on tape multiple times that you refuse to pay despite an official ruling count as “certain circumstances”?

probably not until he actually doesn't pay. people get mad and say shit like that all the time

 

[FurBurger]

I've heard a couple say that even if Pat refuses to pay, Quasi could put a lien on his house. Does that mean that Quasi would have an equity stake of whatever percentage $24k is of the house today? So if the house is worth $300k, he would be entitled to 8% of whatever it sells for at some point in the future?

Joined May 19, 2021

Jesus, Pat - just ask your lawyers.

 

[guest]

Would confessing on tape multiple times that you refuse to pay despite an official ruling count as “certain circumstances”?

Unfortunately not really. It is more of just an accounting thing. The amount that Pat has paid off needs to be high enough that if the house were sold after closing costs the lien would be repaid. It goes in a hierarchy of liens. The mortgage being the first.

As someone previously pointed out he just refinanced so that number is probably 0. He doesn't seem the type to put extra each month either. What quasi could do were he inclined is get a lien, collect interest for several years then force a sale to collect.

 

[TomFromNawlins]

There's nothing lean in that property.

 

[LaylaCumiasMoistHotPocket]

I pray that Seinfeld plot plays out and Fatty is ordered by the court to be Quasi’s butler.

 

[BudDickman]

Jesus, Pat - just ask your lawyers.

I am not Patrick, you gay virgin.

 

[FurBurger]

What quasi could do were he inclined is get a lien, collect interest for several years then force a sale to collect.

Please, Lord; I know you've graced us with ineffable gifts this year, but if I could ask for just one thing for the years to come....

 

[guest]

As someone previously pointed out he just refinanced so that number is probably 0. He doesn't seem the type to put extra each month either. What quasi could do were he inclined is get a lien, collect interest for several years then force a sale to collect.

What if he immediately declares bankruptcy knowing he's gonna lose the house down the road anyway? Better to lose his house to the bank than pay off for a few years before being forced to sell and giving some to Quasi

 

[guest]

What if he immediately declares bankruptcy knowing he's gonna lose the house down the road anyway? Better to lose his house to the bank than pay off for a few years before being forced to sell and giving some to Quasi

It will get very complicated. Not only am I not a lawyer, i'm especially not a bankruptcy lawyer. There's a homestead exception, but he fucked that up by living in half of it and renting the other half out. He can try to claim all sorts of exemptions in court, so who knows.What we do know is it will get very expensive for him in more lawyer fees. I would assume quasi will contest the bankruptcy and ask the court why he's claiming hardships and buying a 2k fridge, space phone and taking 3 international vacations a year.

He's also been recorded saying he will never pay quasi even if a judge orders it, something I would think the bankruptcy court would consider.

 

[Harry Powell]

I really look forward to seeing how this part of the saga plays out. I do think we are creeping closer to him using that spacegun every day.

 

[FranksWirecutters]

I really look forward to seeing how this part of the saga plays out. I do think we are creeping closer to him using that spacegun every day.

Fingers crossed.

 

[Slackjawed Cow]

I look forward to seeing pat making lemonade at Hot Dog on a Stick to pay off his kerfuffle in the courthouse.

 

[Uncle Floyd]

He's also been recorded saying he will never pay quasi even if a judge orders it, something I would think the bankruptcy court would consider.

Fatrick. The pig that keeps on giving. This saga may go on for another five, ten years.

 

[Dummy Gaynuts]

I look forward to seeing pat making lemonade at Hot Dog on a Stick to pay off his kerfuffle in the courthouse.

Bye bye profits if Pat is working there

 

[guest]

It will get very complicated. Not only am I not a lawyer, i'm especially not a bankruptcy lawyer. There's a homestead exception, but he fucked that up by living in half of it and renting the other half out. He can try to claim all sorts of exemptions in court, so who knows.What we do know is it will get very expensive for him in more lawyer fees. I would assume quasi will contest the bankruptcy and ask the court why he's claiming hardships and buying a 2k fridge, space phone and taking 3 international vacations a year.

He's also been recorded saying he will never pay quasi even if a judge orders it, something I would think the bankruptcy court would consider.

This is the shit that angers me the most. The fat faggot flaunts spending like a you-know-what and he doesn't even have a fucking job.

I can't wait until the repo people start showing up at Pat's house. He deserves all of this.