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 San Bernardino

Category:

Letters - Notices - Judgment Liens

State:

Multi-State

County:

San Bernardino

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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The judgment lien is not going to impact a homesteaded property so the mortgage lender would be able to obtain a first lien on your property. So, as long as you otherwise qualify for a mortgage, the judgment lien should not be a problem.

Exemption from the Enforcement of Judgments Type of PropertyCode Automobiles, Trucks, and other motor vehicles, including proceeds traced to the sale of the vehicle. CCP § 704.010 Art and Heirlooms & Jewelry CCP § 704.040 Relocation Benefits CCP § 704.180 Health Insurance Benefits and Disability Insurance Benefits CCP § 704.13027 more rows

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.

And a homeowner may find it difficult to sell any property that has a lien against it. Prospective buyers may avoid a property to which someone else has a claim.

Any time you win a lawsuit, you can put a lien on the defendant's real estate by recording an Abstract of Judgment in the Recorder's Office of the county where the real estate is located.

An involuntary lien can occur without your knowledge, depending on the circumstances. A creditor often places a judgment lien after suing you and winning the case.

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.

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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.• Accounts receivable payable to the debtor,. California laws establish the process for the judgment creditor to begin collecting the money through a judgment lien connected to your real estate. This levy seeks to levy upon and sell (or attach) the real property interest of the following Judgment Debtor(s). 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. An abstract of a judgment is a standard form you can find online. In order to enforce the judgment lien, the judgment creditor must obtain a writ of execution, levy and then sell the real property at an execution sale.

Judgment Against Property For Sale In San Bernardino

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FAQ

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

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Can someone put a lien on my house without me knowing California?

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