Bulletin: NJ000045
Dear Associates:
Please find below an updated lien period chart (Exhibit A). Many examiners find it to be a helpful reference tool.
Please distribute it to all title examiners as well as add it to your New Jersey Underwriting Bulletins Book as Tab 2.
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THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Exhibit A
LIEN PERIOD CHART
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Federal Tax Lien 10 years, 30 days Lien for non-payment of any Federal Tax IRC 6321, 28USC3201 County Discharge IRC 6325 |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
UCC-1 - Financing Statements 5 years - can be continued by filing within 6 months prior to expiration Security interest on fixtures and personal property NJSA 12A:9-101 et seq., NJSA 12A:9-302. NJSA 12A:9-403 County and Secretary of State UCC-3 - Termination Statement |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Corporate Franchise Tax Lien 10 years Tax for the right to do business as a corporation NJSA 54:10A-16, NJSA 54:49-1 No recording required Payment of Tax, clear report |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Transfer Inheritance Tax 15 years Lien for Transfer Inheritance Tax NJSA 54:33-1 et seq. None Recording of Lien Waiver |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Debts of Decedent 1 year or 6 months if limited by court order Debts of decedent NJSA 3A:24-16 None Expiration on time |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
NUB, Notice of Unpaid Balance/Right
to File Lien 90 days Pre-requisite to filing a Construction Lien Claim on residential property NJSA 2A:44A-1, et seq. County Discharge or Bonding |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Construction Lien Claim 1 year from date of last work/material or 30 days after demand to file suit, if none filed Mechanic's lien claim NJSA 2A:44A-1, et seq. County Discharge or Bonding |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Lis Pendens 5 years Notice of pendency of suite affecting real estate NJSA 2A:15-6 to 17 County Discharge |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Contracts for Sale of Real Estate 3 months from date of settlement set in contract Equitable lien for deposit/payments Equitable Conversion NJSA 46:16-1(a), NJSA 46:21-1 County Termination of Contract or merger into deed |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Institutional Lien 20 years Secure repayment of debts in public hospitals NJSA 30:4-80.1, NJSA 44:5-19.1, NJSA 30:4C-29.1 County Discharge |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Mortgage |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Reimbursement Agreement 20 years Repayment to county welfare board for old age assistance NJSA 44:7-14 to 16, NJSA 44:1-30, 2, 3, NJSA 44:9-91.3 County Discharge |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Alcoholic Beverage Tax 20 years Warrant to Sheriff to levy for unpaid tax NJSA 54:44-2 County or Superior Court Return of warrant satisfied, or release of lien |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Civil Recognizance 6 years, NJSA 2A:14-29 Bond for compliance with court order NJSA 2A:14-46, 47 County or Superior Court Discharge |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
County Attachment Until discharged Seizure of property for payment debt NJSA 2A:26-9 to 11 County Warrant to Satisfy |
| Lien: Duration: Nature of Lien: Statutory Reference: Place of Recordation: Discharge: |
Criminal Recognizance 6 years, NJSA 2A:162-5 Bail Bond Rule 3:26-4(c), (d), NJSA 2A:8-29, NJSA 2A:162-1 County Clerk Discharge |