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What recourse do you have once you have been granted a lien against the real property of a business owner?
Wiki User
∙ 15y ago
You have two. One is to foreclose on the lien by forcing a sale of the realty to raise money to pay the judgment. Usually, when proceedings like this get to this point, the owner comes up with the money somehow in order to save his home as long as there is some equity in the property. Your other option is to sit tight and wait until the owner wants to sell the property for whatever reason. He won't be able to sell it with a lien on it, so at that time he will have to come up with the money from the proceeds of the sale, if there is equity, or from his own pocket, if there is none to pay the lien. While you sit on the judgment, the judgment amount earns interest according to rates set by the court or the statutes. Be aware though that some states might require you to go after the owner's personal assets first before going after his house.
Wiki User
∙ 15y ago
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If a judgment is entered against you in a county where you don't reside does the creditor have to file a new lawsuit in the county where you do reside?
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Can foreigner be granted citizenship when own a property in USA?
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