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A judgment for the most part, is a monetary award. It can be collected in various ways, garnishment of wages and/or bank accounts, is an example. It can, however take the form of a lien. A lien is applied to real property, such as a house. The property cannot be sold, borrowed against or ownership transferred until the debt that created the lien is paid in full. The lien holder can, in some cases force the sale of the property to satisfy the debt. This depends on how the property is titled, Tenants In Common, Joint Tenancy, etc.. A property that is titled Tenancy by the Entirety cannot be sold or have a lien enforced against it, unless there are joint debtors. Both will stay on your CR until they are paid and the SOL expires.
Wiki User
∙ 19y ago
A lien is a legal right or interest held by a creditor over a debtor's property as security for a debt or obligation. A judgment, on the other hand, is a formal decision made by a court at the end of a lawsuit that determines the rights and obligations of the parties involved. A judgment can result in a lien being placed on the debtor's property to enforce the court's decision.
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Is a judgment against the person or property?
A judgment can be against either the person or their property. A personal judgment is against the individual's assets or income, while a lien on property is against the person's property.
If you have a judgment and after 7 years it's off your credit does that mean that the creditor can't put a lien on any of your property?
The expiration of the judgment on your credit report does not necessarily prevent the creditor from enforcing the judgment by placing a lien on your property. You may need to check the laws in your state regarding the statute of limitations for enforcement of judgments. Additionally, the creditor may still pursue other legal avenues to collect the debt even if the judgment is no longer on your credit report.
What if you took a contractor to court to pay your attorney fees to get an illegal lien off your house and he has not paid so how do you put a lien on him?
To place a lien on the contractor for failing to pay your attorney fees as ordered by the court, you typically need to obtain a judgment against the contractor for the unpaid fees. Once you have the judgment, you can file a lien against the contractor's property or assets to secure payment. It's advisable to consult with a lawyer to ensure all legal requirements are met.
How do you take out a judgment against someone?
To take out a judgment against someone, you typically need to file a lawsuit in court, provide evidence to support your claim, and go through the legal process. If the court rules in your favor, a judgment will be issued against the defendant. You may then need to take steps to enforce the judgment, such as garnishing wages or placing a lien on property.
How long will a lien on real property last in Texas?
A lien on real property in Texas can last for up to 10 years, unless renewed or released. If the debt is not satisfied within the 10-year period, the lienholder may have the option to renew the lien for an additional 10 years.
Can a judgment lien be constructive or voluntary or general or specified. What?
A judgment lien is an involuntary lien.
Can credit card debt put a lien on your taxes?
Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.
Can you garnish your daughter's wages on a cosigned loan?
You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.
Can a credit card company put a lien on a safety deposit box?
Yes. If they find it and obtain a judgment lien in court first.Yes. If they find it and obtain a judgment lien in court first.Yes. If they find it and obtain a judgment lien in court first.Yes. If they find it and obtain a judgment lien in court first.
What type of attorney can place a judgment lien?
The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.
Can you take ownership of property by filing a lien?
No. A lien doesn't give you ownership. First, you must sue in court and win to obtain a judgment lien. A homeowner cannot sell or mortgage their property until a judgment lien is paid. You may be able to foreclose on the judgment lien in your state. If the lien isn't paid you can consult with an attorney in your state regarding how to foreclose on a judgment lien. Legal costs may be expensive.
How do you go about putting lien for business debt?
You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.You need to sue the debtor and if you prevail the court can issue a judgment lien. The judgment lien can be recorded in the land records and used by the sheriff to seize personal property.
Judgment liens are what type of lien?
A Judgment Lien is a lien placed on property by a creditor to recover a certain sum of money granted by a judgment awarded in court. The property can not be sold legally while the lien remains unpaid.
Does a judgment act the same as a lien when you sell real property?
When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.
What is the difference between a lien on property and lien on a person's name?
You have asked an interesting question. Briefly:There are numerous different types of liens in law. Some occur voluntarily when a property owner places their property as security for a loan. This type may be viewed as a lien against property.Some liens are involuntary such as when a plaintiff wins a judgment against another in a court of equity. The judgment is against the person and the successful plaintiff can request a judgment lien that can be used by the sheriff to attach and take possession of the defendant's property to satisfy the amount owed to the plaintiff. A judgment lien can be recorded in the land records to attach and take possession of real property.
What is the difference between vacate and satisfaction of a lien?
The difference between vacate and satisfaction of a lien is the way in which it was surrendered. During a vacate of a lien, the creditor is releasing the lien on a loan, usually because of a full repayment. The satisfaction of a lien would be like a repossession for non payment to a creditor.
Can a medical collection agency put a lien on your house?
Yes. If it sues you in court and wins a judgment it can request a judgment lien and record that in the land records. Your house cannot be mortgaged or sold until the lien is paid.Yes. If it sues you in court and wins a judgment it can request a judgment lien and record that in the land records. Your house cannot be mortgaged or sold until the lien is paid.Yes. If it sues you in court and wins a judgment it can request a judgment lien and record that in the land records. Your house cannot be mortgaged or sold until the lien is paid.Yes. If it sues you in court and wins a judgment it can request a judgment lien and record that in the land records. Your house cannot be mortgaged or sold until the lien is paid.
