Judgment Lien On Personal Property In Philadelphia

Category:

Letters - Notices - Judgment Liens

State:

Multi-State

County:

Philadelphia

Control #:

US-0025LTR

Format:

Instant download

Description

The judgment lien on personal property in Philadelphia is a legal document used to establish a claim against the personal property of individuals or entities that have an outstanding judgment against them. This form serves as an important tool for creditors, enabling them to secure their interests in a debtor's property. Key features of the form include the identification of the debtor and the details regarding the judgment, including the court where it was filed. The form must be completed and filed in the appropriate county where the property is located. It is crucial for users to ensure accuracy when filling out the document to avoid complications. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in debt recovery processes. It helps streamline the enforcement of judgments by enabling creditors to assert their rights effectively. Additionally, users should be aware of the potential need to file the judgment lien in multiple counties if the debtor owns property in different locations, enhancing the likelihood of successful collection.

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FAQ

To obtain a judgment lien, you must first record the judgment with the court of common pleas in the county where the debtor owns property. The lien will stay in effect for five years, but can be renewed, if the debtor does not sell the property within that time period.

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.

Pennsylvania judgments are valid for 5 years. Judgments can be revived every 5 years and should be revived if a creditor is attempting to actively collect on the debt. Judgments also act as a lien against real property for up to 20 years or longer if properly revived.

Can Personal Property Be Seized In A Pennsylvania Judgement? Judgments from Magisterial District Court and Court of Common Pleas. A plaintiff can seize tangible personal property which are items such as household furnishings, jewelry, and business and office equipment.

Steps to File a Valid Pennsylvania Mechanics Lien Send Preliminary Notice Within 30 Days. Send Pre-Lien Notice at Least 30 Days Before Filing. File Your Lien Claim at Prothonotary's Office. Serve Notice of Filing on the Owner. Start Suit to Enforce Lien Within Two Years. File a Lien Bond to Remove the Lien.

Judgments have expiration dates. If they are not timely renewed, they expire. In CA that is 10 years. However, when a judgment lien has been recorded against your property, it has no expiration date.