Abstract of Judgment
Description Abstract Of Judgment Example
How to fill out Abstract Of Judgment?
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FAQ
In order to vacate a judgment in California, You must file a motion with the court asking the judge to vacate or set aside the judgment. Among other things, you must tell the judge why you did not respond to the lawsuit (this can be done by written declaration).
An Abstract of Judgment is a court issued document that may allow a claimant (creditor) to place a lien on Real Property owned by another (debtor).From that information, California Title Company will have to determine if the judgment debtor is the same person as the property owner.
Contact the creditor that filed the lien. Make payment arrangements if you cannot pay in full. Pay the lien amount in full or as agreed. Request a satisfaction of lien. File the satisfaction of lien if mailed to you. Consult a bankruptcy attorney.
The purpose of an abstract of judgment is to create a public record and create a lien or claim if necessary on any real estate property owned or later acquired by the defendant located in the county in which the abstract of judgment is recorded.
An Abstract of Judgment is a judgment lien against real property that the debtor currently owns, or may try to purchase in the future.The form asks for information regarding the debtor's name, last known address, driver's license number, and the amount of money the debtor owes you.
California allows the judgment to last ten years and it can be renewed for an additional ten years if the creditor files the required forms in a timely fashion. Failure to renew the judgment prior to the ten-year time limit voids the judgment forever.
The debtor must get a discharge or release of the abstract of judgment to remove the lien from the home. Contact the judgment creditor shown on the abstract. Arrange to pay the debt in full or negotiate payments. Ask the creditor for a discharge if paying in full.
The wise judgment creditor will make sure it is renewed at least every 10 years or it will expire. Note that any liens created by filing and recording an Abstract of Judgment must also be renewed.When the judgment is renewed, the interest that has accrued will be added to the principal amount owing.