What does a judgement lien mean?

A judgment lien is a court ruling that gives a creditor the right to take possession of a debtor's property if the debtor fails to fulfill their contractual obligations.

Can you buy a house if you have a judgement against you?

If your debt judgment is unpaid, it will form an immediate lien if you buy a house. So no mortgage lender will lend. At closing time they'll find it you also need to disclose the judgment in the application. Failing to do so is misrepresentation.

US Legal Forms
Legal Letters
Sample Letter for Notice of Judgment - Lien

Notice Of Judgment Lien In Middlesex

Category:

Letters - Notices - Judgment Liens

State:

Multi-State

County:

Middlesex

Control #:

US-0025LTR

Format:

Instant download

Description

This form is a sample letter in Word format covering the subject matter of the title of the form.

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FAQ

A judgment lien is a court ruling that gives a creditor the right to take possession of a debtor's property if the debtor fails to fulfill their contractual obligations.

If your debt judgment is unpaid, it will form an immediate lien if you buy a house. So no mortgage lender will lend. At closing time they'll find it you also need to disclose the judgment in the application. Failing to do so is misrepresentation.

Judgements can become a first lien against a property. Lenders generally want to be first lien when it comes to mortgages. So yes, it will be deal breaker for most mortgage companies. I've seen mortgages get denied because of a $6000 judgement.

After a default judgment has been entered in the court record, the Office of the Special Civil Part will mail you a postcard that shows the date and amount of the judgment entered by the court against the defendant.

A lien which results from a judgment shall terminate not later than twenty years from the date it was created.

More info

Request to have the judgment recorded as a lien against any real estate the debtor owns. Notice of Lending forms can be purchased at stationery stores that carry legal forms.Enter a party name to search on Last-Name First-Name (e.g. , Smith Al), Company Name (e.g. All liens shall survive the foreclosure judgment. Plaintiff shall disclose and describe the amount of such liens and encumbrances immediately prior to sale. A judgment entered in court that is available for public view. Its purpose is to give official notice that liens or judgments exist. The person who purchased the lien will receive a legal document referred to as a "tax certificate" which must be recorded with the Middlesex County Clerk. The Middlesex County Clerk's Office stands ready to assist with recordation of real property ownership and transfer, and in retrieval of information.

Notice Of Judgment Lien In Middlesex

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