Legal Question in Real Estate Law in Massachusetts
can I lput a lein on a property?
I am paying for an apartment to be added to my Son,s home. Can I lein his property to protect my money in case he decides to sell?
1 Answer from Attorneys
Re: can I lput a lein on a property?
The easiest way to ensure payment is by executing a mortgage and note regarding the loan. The mortgage would be recorded on the property once it is signed by your son. In short, your son would be granting you a mortgage to secure the note. If you son defaults on payment, you could then foreclose on the property to recover the money or you could wait until the property is sold and you would be paid if the sales price was greater than any mortgages/liens recorded prior to yours. At the very least you should draft a contract covering the loan and payment terms. This way if your son defaults you could also seek an attachment (lien) at the same time you file a court case to collect. As mentioned, the easiest and safest way to secure payment is by asking your son to sign a mortgage and note and recording the mortgage promptly.