This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Lien On Personal Property With Mortgage In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
A judgment lien is a court ruling that gives a creditor the right to take possession of a debtor's property if the debtor fails to fulfill their contractual obligations.
Personal Property Execution If a Judgment Creditor knows that the Judgment Debtor owns a car, truck, motorcycle or other personal property of significant value, the Judgment Creditor may file a Property Execution.
A mortgage is a specific, voluntary lien. It is specific to the piece of property and is voluntary because it was agreed to by the property owner. A judgment lien is an example of a general, involuntary lien. Judgment liens can be applied against any of an individual's assets.
Personal Property Execution If a Judgment Creditor knows that the Judgment Debtor owns a car, truck, motorcycle or other personal property of significant value, the Judgment Creditor may file a Property Execution.
A creditor can search public property records to find out if you own a home or any other real property. If you are sued, whether to satisfy a debt or to recover accident-related damages, your home could be attached to the claim and taken to satisfy any unpaid obligations.
It's unlikely that someone would lien the house after it was sold, but not impossible. If you don't buy an owner's policy, you'd have to get an attorney and go to court and prove the property was improperly liened.
If the current owners hold the only claim to the title, it's considered clean. If, on the other hand, there are outstanding liens or ownership disputes, they will need to be resolved before the sale can close. At the closing table, buyers will see a line in their closing costs for title insurance.
A judgment lien in Oregon will remain attached to the debtor's property (even if the property changes hands) for ten years.
More info
Notice of Lending forms can be purchased at stationery stores that carry legal forms. In New York, a lien of a Judgment on personal property generally requires a levy pursuant to a property execution.According to New York law, you can attach a judgment lien to your debtor's real estate, whether they own a freestanding house, a condo, or land. To attach the lien, the creditor files the judgment transcript with the county clerk in the New York county where the debtor's property is located. But what if the debtor owns stock in a closely held corporation or other intangible property? How can a judgment creditor seize and liquidate that? A judgment lien attaches to practically all of the debtor's real property in the county where the judgment was entered. Both individuals and entities (i.e.
