Common Mistakes to Avoid When Conducting a Personal Property Lien Search April 18th, 2024 • 4 min read When you’re conducting a large transaction involving personal property, such as a vehicle or high-value household items, it’s important to first conduct a personal property lien search to ensure the legal owner or debtor can legally sell or borrow funds against the property, as well assess any potential risks involved in purchasing or lending money with the property as collateral. However, navigating these searches demands precision, as any incorrect or missing information can deliver incorrect results and, ultimately, substantial repercussions. In this blog, we’ll discuss the most common mistakes people make when conducting personal property lien searches in Alberta and how you can avoid making these critical errors. Failing to Expand Search Parameters Conducting a search that focuses solely on the owner or debtor’s name may turn up incomplete or inaccurate results. Instead, expand your search parameters to include common nicknames, alternate spellings, abbreviations, and even typos to ensure you uncover any security interests or registered liens against the property in question. Neglecting Jurisdictional Differences Every jurisdiction has its own rules when it comes to lien filings, so it’s important to understand the unique requirements governing personal property liens in Alberta. There are many situations in which a lien can be registered against a property in Alberta, including: Unpaid child or spousal support Unpaid debts to creditors or the CRA Unpaid debts to a contractor who’s performed labour or service on a property Matrimonial interest appointed by the court To have a lien removed from the property, the debtor must clear all related debts. For example, if a contractor has placed a lien on the property for unpaid services, that bill must be paid in full to have the lien removed. Relying Only on Online Searches Online databases can be a helpful tool for conducting personal property lien searches in Alberta; however, they’re not the only option. For complete, accurate results, supplement online database searches with a personal property lien search provided by Registrations Are Us. Skipping Due Diligence on Debtor Information Having inaccurate information about the debtor you’re searching can make it difficult to retrieve complete results when conducting a lien search. Before ordering a personal property lien search, take time to conduct due diligence, verifying their legal name, address, and other identifying information. Get the Complete Picture with a Personal Property Lien Search from Registrations Are Us Conducting personal property lien searches requires attention to detail and a thorough understanding of personal property liens in Alberta. It’s easy to make these common mistakes if you’re not careful, but with the right preparation and information in hand, you’ll be able to effectively conduct a personal property lien search that delivers accurate, comprehensive results. For help with personal property lien searches in Alberta, reach out to Registrations Are Us in Edmonton. Visit us in person at 16658 109 Ave NW or contact us for more information.
