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Judgment Lien Forms Foreclose In Illinois
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Multi-State
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US-0025LTR
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Word;
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FAQ
How does a creditor go about getting a judgment lien in Illinois? To attach a lien, if the debtor's property is located in the same county where the judgment was entered, the creditor files the judgment with the county recorder.
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. Before discussing the terms of joint ownership, it's important that you understand exactly what liens are and what they may mean for you and your investment.
A judgment is a lien on real estate for 7 years from the time it is entered or revived. 735 Ill. Comp. Stat.
2nd and Junior Mortgages (such as home equity loans, etc.) Credit Card Judgments (recorded after the foreclosing mortgage) Personal Judgments (recorded after the foreclosing mortgage) Mechanic's Liens (recorded after the foreclosing mortgage) Other Judgments (recorded after the foreclosing mortgage)
Under Illinois law, a mechanics lien should be filed in the County Recorder of Deeds where the property is located. This is crucial as the lien must be filed not only in the correct county but the correct office as well. The fees and specific document formatting vary depending on your county.
Judgment liens do not last for the full twenty years that the judgment is enforceable. The lien will expire seven years from the time it is recorded. 735 ILCS 5/12-101. However, real estate that has been levied upon within the seven-year period is allowed one additional year to be sold to enforce the judgment.
Enforcement proceedings (also known as collection actions) to collect judgments are governed primarily by 735 ILCS 5/2-1402. This statute provides three main tools for enforcing and collecting judgments: (1) the Citation to Discover Assets; (2) wage garnishment proceedings; and (3) non-wage garnishment proceedings.
More info
Vacate default judgment of foreclosure Easy Form. A program to help you complete the forms to undo a default judgment in a foreclosure case.Download and complete Mortgage Foreclosure forms from the Illinois Office of the Courts. A judgment lien enables a creditor to compel the selling of a debtor's property. The proceeds from the property sale are then used to satisfy the judgment. The Fullman Firm gives an overview of judgment liens and foreclosures. Contact us today to schedule a free consultation. Your use of the forms does not guarantee you will be successful in court. Consent Foreclosure. To secure a judgment lien against personal property, the creditor usually files a notice of judgment lien with the Secretary of State where the debtor lives.
