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A judgment is coming against you in the near future. You now purchase land with owner financing. Could this down-the-road judgment force the land to sell considering the funds you used to purchase?
Wiki User
∙ 12y ago
That depends on the laws in your state. Generally, if the debt is large enough to justify the cost of a siezure and sale and if there is enough equity in the land the judgment creditor could sieze the land and keep it or sell it. However, if there is a recorded mortgage prior to the judgment the land will be subject to that mortgage.
On the other hand the judgment creditor could simply record the judgment lien in the land records and keep it updated. Under those circumstances you couldn't refinance or sell the property without paying the lien.
Wiki User
∙ 12y ago
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What is purchase money financing?
Purchase money financing is when the seller agrees to take back a mortgage for the new buyer. It is owner financing in whole or in part.
Can There Be Any Funding Available To Purchase Orders?
Purchase order financing can from time to time be produced available with respect to the product and character from the purchase order. This kind of financing is a lot harder to set up than invoice financing, but when our clients has an excuse for purchase order financing, our financing sources is going to do their finest to complement our customer’s must an excellent source of financing.
Purchase of treasury stock is financing activities?
Yes
What are the advantages of owner financing?
There are a number of advantages to owner financing. The biggest would be if the person attempting to purchase the home you are selling is not able to obtain conventional financing for any reason.
What is the best way to finance a car purchase?
There are several options for financing a car purchase. If you are buying through a dealership, they may offer financing for their customers. You can also get a loan from your bank or credit union.
Where can you find financing to purchase an RV after bankruptcy?
where can you find financing to purchase an Rv after bankruptcy?
What is purchase money financing?
Purchase money financing is when the seller agrees to take back a mortgage for the new buyer. It is owner financing in whole or in part.
Can There Be Any Funding Available To Purchase Orders?
Purchase order financing can from time to time be produced available with respect to the product and character from the purchase order. This kind of financing is a lot harder to set up than invoice financing, but when our clients has an excuse for purchase order financing, our financing sources is going to do their finest to complement our customer’s must an excellent source of financing.
Purchase of treasury stock is financing activities?
Yes
Can a person with a repossession purchase another vehicle?
Yes. However, please note: 1. If the creditor who repossessed your old vehicle sued you and obtained a judgment against you, you would have to pay the judgment in full before buying another car. Otherwise, the judgment could be attached to you new car, and it too would be repossessed. 2. After a repossession, you may find it hard to get financing for a vehicle. If you need financing, check with your local bank or lenders who specialize in giving loans to borrowers with less than perfect credit.
What are the advantages of owner financing?
There are a number of advantages to owner financing. The biggest would be if the person attempting to purchase the home you are selling is not able to obtain conventional financing for any reason.
What is the best way to finance a car purchase?
There are several options for financing a car purchase. If you are buying through a dealership, they may offer financing for their customers. You can also get a loan from your bank or credit union.
Can you be held to a purchase agreement without knowing the financing terms?
Yes.
What are the examples of short term financing?
Loan, leasing, hire purchase
What types of purchase are good for consumer financing programs?
The types of purchase that is good for consumer financing programs depends on which computer finance you are referring to. Your best bet is to look on the First Look Approval website.
Where can one get airplane loans?
There are several lenders that with provided financing to purchase an airplane. These include Bank of America, Air Loan, US Aircraft Finance, Airplane Financing and Aircraft Financing Direct.
Can a car dealership cash your check that was used for down payment if you were never approved for financing?
A check given to the dealership will be cashed. This is normal in business. Whether they can keep the money or have to return it is based on what your purchase agreement reads. Where I live if the purchase agreement has "Subject to financing" on it the down payment must be returned if the dealer can not get you financing and you can't get outside financing. If it does not have that in it they get to keep the money.
