Can a creditor force the sale of my home in California?

Judgment creditors can force the sale of real property owned by debtors in California. If there is equity in the property sold (i.e., if the property's value exceeds the senior liens encumbering the property), forced sales are an excellent source of recovery for judgment creditors.

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

Judgment Against Property For Sale In Oakland

Category:

Letters - Notices - Judgment Liens

State:

Multi-State

County:

Oakland

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

Judgment creditors can force the sale of real property owned by debtors in California. If there is equity in the property sold (i.e., if the property's value exceeds the senior liens encumbering the property), forced sales are an excellent source of recovery for judgment creditors.

If a creditor puts a lien on your property, you may make an offer to settle the amount for less than you owe. As part of the negotiations, get the creditor to release the lien. Consider hiring a debt settlement lawyer to help you if you need help in the negotiations.

To do this, fill out an EJ-001 Abstract of Judgment form and take it to the clerk's office. After the clerk stamps it, record it at the County Recorder's Office in the county where the property is located. Place a lien on a business.

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.

Write the name and last known address of the judgment debtor in the space provided. You may also include any known aliases used by the judgment debtor. Fill in the last 4 digits of the judgment debtor's driver license number and state where it was issued, if you know them.

Once the recorder's office has recorded the Abstract of Judgment, it officially becomes a lien on the real property the debtor owns in the county now or may acquire later.

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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.Levy under writ of sale on real property. Once you have a judgment entered, you need to fill out the abstract of judgment form. In California, if you're the person owed money (the creditor), you can place a judgment lien on the debtor's real estate or personal property. You must wait 21 days after your small claims judgment was signed before you can file an execution against property. Our Bay Area deficiency judgment attorneys offer expert guidance on deficiency judgment foreclosure, ensuring your rights and financial interests are protected. Quiet title actions allow a litigant to have the court determine title to a piece of real property, removing any cloud on the title or adverse claims. Once you have completed the Request and Order to Seize Property - MC19 form and filed it at the court, the judge must sign the form. Some California cities also require lenders to register properties that are in the process of being foreclosed.

Judgment Against Property For Sale In Oakland

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FAQ

Can a creditor force the sale of my home in California?

What to do if a creditor puts a lien on your house?

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Can a judgment prevent you from buying a house?

How do I fill out an Abstract of a judgement in California?

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