This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Against Property For Sale In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
In a debt collection lawsuit, a judgment is a court order that allows the debt collector to use stronger tools, like garnishment, to collect the debt. A judgment is an official result of a lawsuit in court.
Most creditors will file the release of judgment within 30-60 after you finish paying them. What if I need the judgment released immediately (“I'm supposed to close next week!”)? You can ask them to give you the release sooner. They might do it; they might not.
Judgements can become a first lien against a property. Lenders generally want to be first lien when it comes to mortgages. So yes, it will be deal breaker for most mortgage companies. I've seen mortgages get denied because of a $6000 judgement.
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.
You can contact your bank, employer, or credit reporting company to find out which Court made the judgment. You can use the Court Locator on this page to find a Court. Then contact the Court and get a copy of the court file, including the Affidavit of Service for the Summons and Complaint.
How Long Are Judgments Valid in New York? Judgments are valid for 20 years and may be extended once for an additional period of 10 years. To extend a judgment for an extra ten (10) years, the Judgment Creditor must make written application to the court that issued the original judgment.
You can contact your bank, employer, or credit reporting company to find out which Court made the judgment. You can use the Court Locator on this page to find a Court. Then contact the Court and get a copy of the court file, including the Affidavit of Service for the Summons and Complaint.
A judgment is good for 20 years, but if the plaintiff wants to enforce the judgment against land it is only good for 10 years unless the plaintiff renews it for another 10 years.
How Long Are Judgments Valid in New York? Judgments are valid for 20 years and may be extended once for an additional period of 10 years.
More info
Form must be filled out and notarized at the time of filing. A creditor can sue you to get a judgment against you.In New York, a judgment lien can be attached to the debtor's real estate -- meaning a house, condo, land, or similar kind of property interest. Call us at or fill out our contact form for a free, no-obligation consultation to discuss your real estate matter. A tax lien is a legal claim against real property for unpaid municipal charges, such as property taxes, housing maintenance, water, sewer, demolition, etc. You must pay the Real Property Transfer Tax (RPTT) on sales, grants, assignments, transfers or surrenders of real property in New York City. A tax warrant is equivalent to a civil judgment against you, and protects New York State's interests and priority in the collection of outstanding tax debt. The seller's side will also prepare the deed and tax transfer documents, and address any liens or judgments found in the title report. On March 23, 2009 the court denied AvalonBay's motion to dismiss or, in the alternative, for summary judgment based on its Memorandum Opinion.
