Legal Question in Real Estate Law in New Jersey

Re: Lien placed on our home by a company that's out of business.

You need some expert legal advice. You may be able to place the money on deposit (escrow) in a fashion that satisfies the buyer's title insurance company, and then close the sale. you will then need to take legal action to get rid of this lien.

I have done work like this. Please call me; I never charge for the first telephone call.

Re: Lien placed on our home by a company that's out of business.

You have at least two issues here. The most immediate is how to complete the sale of the house. Mr. Davies has given you good advice to which I add that, if the lien is a judgment lien, there may be 18 years of interest to be added to any amount in escrow. You should factor that into your thinking.

The second issue is whether and how the lien can be removed. That depends on what kind of lien it is. If it is a judgmemt lien, it will still be good. A challenge at this time will be more difficult because of the time but more likely to succeed because the other parties are unavailable. If, however, the lien is a construction lien (which used to be called a mechanics lien), it will have expired by law and it should be pretty much an administrative process to have it removed and get you the money.

Regardless, you will still need some legal help. My firm handles matters of this type. If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm