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Liens can be placed against any real property owned by the person being sued. A forced sale of property seldom happens, with the exception of secured lender foreclosure. Unsecured creditors prefer ganishment or levy procedures, as they are the least complicated legally and therefore easiest to enforce. And all states have homestead exemptions which can be used to protect the person's primary residence. Consult the bankruptcy exemptions for your state of residency, these exemptions also apply to judgments from lawsuits.
Wiki User
∙ 8y ago
Wiki User
∙ 12y agoOnly if the judgment exceeds the limits on your ins policy.For example -you have $100,000 of auto liability ins -you are involved in an accident which is your fault and get sued for $200,000 but the court awards the other party $150,000 you would be liable for out of pocket expenses of $50,000 your ins co would pay the $100,000 limit , you pay the other $50K - if you had 25k in the bank stocks etc then they could put a 25K lien on your house till you paid the full 50K , or you could take a 2nd mortgage out on the home for the additional 25K so you don't lose the home
- Something to consider is to insure yourself adequately , the additional cost of more liability ins is small. Or ask your ins agent aboutan umbrella policy . It can save you alot of headaches later
Wiki User
∙ 14y agoIn theory.
In practice, a person would have to lose, then have a more of a judgment against them then they could pay, then not pay for awhile.
A lien may be put on their house at that point. But that doesn't lose them their house, it just means that if they sell it, any profit goes to the person who placed the lien on it.
Now, a forced sale can be petitioned, and possibly won, but it also depends on if there is enough equity in the house to make that viable.
Most people are in no danger of losing a home.
If you don't pay your mortgage, the bank will foreclose on you.
Many people have already lost their homes because of the poor economy.
Wiki User
∙ 9y agoYes, it is possible that a house can be taken in a civil lawsuit. The house would have to be paid off.
Wiki User
∙ 16y agoYes.
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A house that is lost to foreclosure has been?
taken back by the lender
What are some ways states are implementing tort reform?
States are implementing tort reform by capping non-economic damages, such as pain and suffering, placing limits on punitive damages, limiting attorneys' fees, implementing stricter standards for medical malpractice claims, and encouraging the use of alternative dispute resolution methods like mediation and arbitration. Additionally, some states have adopted "loser pays" rules where the losing party must pay the prevailing party's attorney fees.
What percentige died in the worcester civil war?
Out of a force of 31,000 the Parliamentarians lost 200 and out of a force of 18,000 the Royalists lost 3,000 with over 10,000 prisoners taken
Can you place a lawsuit on the person that lost your dog through neglect they took the dog to a place where she was not suppose to be and then lost it?
No.
Who lost the US Civil War?
The south lost the U.S Civil War.
What is judgment in a lawsuit mean?
The judgement is the final decision - who won, who lost, and what the damages are.
What happened to the Donna j somerville civil suit?
the correct answer is that she lost the civil case and had to hand over the house on the hill. the jury there found the preponderance of evidence showed she had killed her husband unlike the first criminal trial.
Do civil action lawsuit proceeds have to be claimed on income tax?
Depends on what the recovery or award was for. General guideliens are if it stated as for replacing property you lost, putting you back where you were (say damamges to your car), it is NOT taxable (presuming you have not taken the amount of that loss as a casulty deduction previously). If it replaces lost income, from work or say rental property (which would have been taxable if you had received it normally), or is punitive in nature, it's taxable. (Although some of the costs of recovery may be deductible).
What side lost the Civil war?
The Confederates lost.
What is the duration of The Lost House?
The duration of The Lost House is 2400.0 seconds.
Can you lose your home in a lawsuit in the state of Florida?
If you've lost a civil suit or claim of restitution, the winning party may apply what is known as a lien against your property. This means that until they're paid in full they own the house in which you're living in. If you default on the judgement, they may pursue a civil forfeiture case that allows them to seize your home. However, many courts will not grant this type of lien unless the judgement you owe exceeds your wages and other liquid assets.
What percent of kids lose their cell phone at school?
It depends... get lost lost or get taken away? If it is lost lost, not very many, but if it is taken away by teachers, that happens alot.
