Judgement Lien Example In Utah

State:
Multi-State
Control #:
US-0025LTR
Format:
Word; 
Rich Text
Instant download

Description

The Judgment Lien example in Utah serves as an important legal tool for individuals seeking to secure a debt owed through the placement of a lien against a debtor's real property. This form is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in debt collection or property disputes. Key features of this document include the ability to officially enroll a judgment in a specific county, thereby creating a lien that binds the debtor’s real estate. When filling out the form, users need to provide details such as the names of the debtor(s), the county of enrollment, and the specific judgment information. Editing instructions emphasize the importance of tailoring the document to fit individual circumstances, ensuring accurate representation of the facts. Ideal use cases for this form include situations where clients seek to enforce court judgments, protect creditor rights, or if additional property may be located in other counties. Overall, this form enables legal professionals to effectively manage and enforce judgments while ensuring compliance with Utah laws.

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FAQ

The statute of limitations for renewing a judgment is 8 years from the date of the judgment. Utah Code Section 78B-2-311. The judgment creditor can renew the judgment, but must do so before the statute of limitations expires.

Judgment Lien File the judgment or Abstract of Judgment in the office of the County Recorder in the county in which the debtor's real property is located. If the debtor has real property in more than one county, file in each county. Also file with the County Recorder a Judgment Information Statement.

In Utah, the statute of limitations for any signed written contract, obligation, or liability is six years. For unwritten (verbal) contracts, obligations, or liabilities, the statute of limitation for an unpaid debt expires after four years.

It shows up on your credit report as well as on any background checks. The judgment is considered a lien against your property, including any real estate that you have, in the state in which the judgment is filed.

Lien and Judgment Negotiation Locate your creditor and find out how much you owe: This can often be the most challenging part of lien negotiation. Evaluate and explain whether it is worth it to try and negotiate the lien or judgment: Some liens are negotiable and some aren't. Negotiate: Negotiation is an art.

In many states, a judgment doesn't become a lien on the defendant's property until the plaintiff makes an additional filing and records the judgment in the county where the property is located.

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.

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.

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Judgement Lien Example In Utah