This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Lien On Jointly Owned Property In Alameda
Category:
State:
Multi-State
County:
Alameda
Control #:
US-0025LTR
Format:
Word;
Rich Text
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FAQ
Except as provided in Chapter 454, RSMo, or Chapter 517, RSMo, the lien of a judgment commences upon entry of the judgment, continues for a period of ten years, and is revived by a revival of the judgment.
Yes, a lien may be placed on property that is jointly owned. However, the effects of that lien depend on the type of ownership that the property is under.
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Missouri, a judgment lien can be attached to real estate only (like a house, condo, or land).
Thus, on the death of one co-owner, his or her interest will not pass to the surviving owner or owners but will pass as an individual share ing to his or her will or, if there is no will, by the law determining heirs. How is a Joint Tenancy Created, and What Property Can Be So Held?
The answer to your question is yes. If a party jointly owns a debt with a debtor, then the creditor can still put a lien on any property owned by the debtor, regardless of who else has ownership in it.
Almost all construction parties have a right to file a mechanics lien in Missouri. General contractors, subcontractors, and material suppliers have lien rights, as well as equipment lessors and landscapers. An exception applies to parties working on residential projects with 1 to 4 units.
Joint tenancy does not offer asset protection from creditors. If a joint tenant incurs debts or legal liabilities, creditors may seek to satisfy those debts by making claims against the jointly held assets, potentially putting the entire account at risk.
Even if the spouses held the matrimonial home as joint tenants at the time that the creditor filed its writ, the creditor could only seize the interest of the judgment debtor in the home.
If one owner dies, the property automatically passes to the other owner(s). Property owned in joint tenancy does not form part of your estate (because of the right of survivorship). This means the property is not listed on an application for a grant of probate or administration.
More info
You can put a lien on that property so that if they ever sell or refinance the property you might get paid. To do this, you first need an Abstract of Judgment.A judgment lien affects real estate you own in the county where the creditor records the lien, or where the court enters the judgment. Can a lien be placed on jointly-owned property? A lien can be placed on a property owned jointly. A judgment lien is a courtsanctioned claim imposed on a debtor's property when they lose a case and owe money to the plaintiff. A properly recorded Abstract of Judgment attaches to all real property interests of the judgment debtor in the county where the lien is recorded. Other involuntary judgments, mechanic's liens, etc. Real Property Sales and Transfers - Lien Notification. Some of the cities in Alameda County impose their own city real property transfer tax.
