North Carolina Abstract of Judgment

• Category: Federal - District Court
• State: Multi-State
• Control #: US-FED-0044
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. North Carolina Abstract of Judgment is a legal document issued by a court to enforce a judgment against a debtor. It serves as a public record that outlines the debt owed by the debtor to the creditor. This abstract is crucial for both creditors seeking to recover their debts and potential creditors conducting due diligence on individuals or businesses. A North Carolina Abstract of Judgment contains essential information, such as the names and addresses of both parties involved, the amount of the debt owed, the court that issued the judgment, and the case number. It also delineates the interest rate on the debt, any applicable fees, the date the judgment was entered, and any additional court orders related to the debt. The abstract serves as an important tool for creditors as it creates a lien on the debtor's real property located in the county where the abstract is filed. This means that if the debtor owns any real estate in that county, the abstract of judgment will act as a legal claim against the property. Furthermore, the abstract can also be used to garnish the debtor's wages or seize their personal property to satisfy the debt. In North Carolina, there are different types of Abstracts of Judgment, such as: 1. General Abstract of Judgment: This is the most common type of abstract that allows the creditor to place a lien on the debtor's real property located in the county where the abstract is filed. 2. Federal Abstract of Judgment: This type of abstract is utilized when a federal court renders a judgment against a debtor. It is filed in the county where the debtor resides or owns property. 3. Sister-State Abstract of Judgment: This abstract is utilized when a creditor has obtained a judgment in another state, and they want to enforce it in North Carolina. The creditor files the Sister-State Abstract of Judgment in the appropriate North Carolina county, enabling them to collect the debt within the state. The North Carolina Abstract of Judgment is an effective tool for creditors to secure their rights and increase the likelihood of debt recovery. It provides a public record of the debt owed and grants the creditor the ability to pursue various legal avenues to collect the amount owed.

North Carolina Abstract of Judgment is a legal document issued by a court to enforce a judgment against a debtor. It serves as a public record that outlines the debt owed by the debtor to the creditor. This abstract is crucial for both creditors seeking to recover their debts and potential creditors conducting due diligence on individuals or businesses. A North Carolina Abstract of Judgment contains essential information, such as the names and addresses of both parties involved, the amount of the debt owed, the court that issued the judgment, and the case number. It also delineates the interest rate on the debt, any applicable fees, the date the judgment was entered, and any additional court orders related to the debt. The abstract serves as an important tool for creditors as it creates a lien on the debtor's real property located in the county where the abstract is filed. This means that if the debtor owns any real estate in that county, the abstract of judgment will act as a legal claim against the property. Furthermore, the abstract can also be used to garnish the debtor's wages or seize their personal property to satisfy the debt. In North Carolina, there are different types of Abstracts of Judgment, such as: 1. General Abstract of Judgment: This is the most common type of abstract that allows the creditor to place a lien on the debtor's real property located in the county where the abstract is filed. 2. Federal Abstract of Judgment: This type of abstract is utilized when a federal court renders a judgment against a debtor. It is filed in the county where the debtor resides or owns property. 3. Sister-State Abstract of Judgment: This abstract is utilized when a creditor has obtained a judgment in another state, and they want to enforce it in North Carolina. The creditor files the Sister-State Abstract of Judgment in the appropriate North Carolina county, enabling them to collect the debt within the state. The North Carolina Abstract of Judgment is an effective tool for creditors to secure their rights and increase the likelihood of debt recovery. It provides a public record of the debt owed and grants the creditor the ability to pursue various legal avenues to collect the amount owed.