A Lien Alabama With Judgment

State:
Alabama
Control #:
AL-02023
Format:
Word; 
Rich Text
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Description

The Statement of Lien in Alabama is a legal document used to assert a claim over a property due to unpaid debts. This form includes essential information such as the debtor's name, the amount owed, and descriptions of the property in question. Key features include the requirement for notarization, which lends credibility to the document, and the filing process details, which are critical for ensuring its legal enforceability. When filling out the form, users must clearly state the debt amount and the effective date of the lien. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need to secure interests in properties for unpaid services or loans. It helps protect financial interests and provides a legally binding method for creditors to claim repayment. Ensuring accuracy and completeness while completing the Statement of Lien is vital, as errors may hinder a claim. This form is also applicable in various scenarios, such as construction contracts or unpaid invoices, making it a versatile tool in real estate and financial transactions.
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How to fill out Alabama Notice Of Lien?

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FAQ

In Alabama, money judgements last up to 20 years (Ala. Code § 6-9-190). But judgments are generally only enforceable for 10 years (Ala. Code § 6-9-191), and then they're renewed for another 10 years if the judgment debtor still hasn't paid the debt.

Judgment Liens If you do not prove your case, the court will issue a judgment against you demanding you repay the debt. To ensure they receive repayment the court allows the creditor to place a ?judgment lien? against the property you own (real or personal) now or own in the future.

The easy definition is that a judgment is an official decision rendered by the court with regard to a civil matter. A judgment lien, sometimes referred to as an ?abstract of judgment,? is an involuntary lien that is filed to give constructive notice and is to attach to the Judgment Debtor's property and/or assets.

In Alabama, a creditor can place a judgment lien on your real property (or your personal property or vehicle) in order to collect the judgment, and it will remain attached to your real property for 10 years, even if you sell the property.

Once a creditor has sued you and gotten a judgment against you, the can "execute" on your real property (house) or personal property (car, bank account, etc.) The Sheriff will serve you with the execution papers.

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A Lien Alabama With Judgment