The Amended Abstract shows judgment was discharged by The Bankruptcy Court but the lien on listed property is still valid
Bankruptcy Court but the lien on listed property is still valid
Texas Amended Abstract of Judgment
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Key Concepts & Definitions
Amended Abstract of Judgment: This is a legal document that updates or corrects an original abstract of judgment. It's filed in the county where a property of the debtor is located, reflecting any changes in the state of the judgment, such as new information or modifications following appeals or corrections.
Step-by-Step Guide
- Review the Original Judgment: Ensure you have the final issued judgment from the court that incorrectly states elements that should be corrected or updated.
- Identify Needed Changes: Clearly determine which part of the original abstract of judgment needs correction, such as debtors details, amounts, or other specifics.
- Prepare the Amended Abstract: Compile the necessary amendments in a format accepted by the court. This may require legal advice or attorney services.
- Submit the Document: File the amended abstract of judgment in the same court jurisdiction where the original was filed and ensure to pay any applicable recording fees.
- Notify Interested Parties: It's crucial to inform all parties affected by the judgment, including creditors and debtors, about the amendments made.
Risk Analysis
- Legal Non-Compliance: Failing to correctly amend an abstract of judgment can lead to issues of non-compliance with court orders, affecting legal outcomes.
- Financial Implications: Incorrect details on a judgment can impact financial transactions, particularly those involving credit decisions or property liens.
- Reputational Damage: For legal professionals, inaccuracies and poorly handled amendments can harm reputation and credibility.
Key Takeaways
An amended abstract of judgment is crucial when there are changes to a legal judgment post its initial issue. Proper amendment ensures all parties have current and accurate information regarding the judgments status and specifics. Always seek professional legal help when dealing with court documents and judgments.
FAQ
- What triggers the need for an amended abstract of judgment? Changes in the judgment due to corrections, appeals, or modifications necessitate an amendment.
- Who can file an amended abstract of judgment? Typically, a party to the case or their legal representative is responsible for filing the amendments.
- How long do I have to file an amendment? This can vary by jurisdiction, but generally, amendments should be filed as soon as the changes are finalized by the court.
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FAQ
It is active for 10 years and can be renewed if the have attempted to execute on the judgment. They will not be able to foreclose on the homestead unless the homestead looses its status as homestead.
Vacate the Judgment. If a judgment has been entered against a debtor in Texas, a motion for new trial is the best way to vacate that judgment. Discharge Through Bankruptcy. If all else fails, most judgments can be discharged in bankruptcy. Claim Your Property as Exempt. Settle Your Judgment for Less.
There are two options. You can obtain a full release of the abstract of judgment from the creditor or you can file your own partial release of the abstract of judgment as it relates to your homestead.
An Abstract of Judgement is a written summary naming the amount evicted tenants owe, court costs that need to be paid, interest what is owed, as well as other orders resulting from the lawsuit.An abstract of judgment also creates a lien against any real property located in the county the abstract was in.
It is active for 10 years and can be renewed if the have attempted to execute on the judgment. They will not be able to foreclose on the homestead unless the homestead looses its status as homestead.
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.
A Texas judgment is valid for ten years from the date it's signed by the judge.But during the two year dormancy period the judgment can be revived by simply filing a motion with the court to revive it. Then the judgment's life starts over and it is then valid for ten years from the date the judge revives it.
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.