This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Against Property With Bad Credit In Cuyahoga
Category:
State:
Multi-State
County:
Cuyahoga
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Once a creditor has a judgment against an individual they can execute that judgment through various means including: Wage garnishment; Bank account lien; or. Placing a lien on real property or seizing real property.
In Ohio, the homestead exemption applies to real and personal property that you or your dependents use as a residence, including your home, inium, or mobile home. Filers can protect up to $182,625 in home equity if they reside in the property when they file the bankruptcy case. (Ohio Rev. Code § 2329.66.)
Here are the California System 1 property exemptions: The Homestead Exemption protects up to $600,000 in your principal residence, which could be a home, boat, condo, or even a planned development. The Motor Vehicle Exemption protects up to $3,625 of equity in your car or other vehicle.
Regardless of whether any payments are made, your judgment does not last forever. In Ohio, judgments go “dormant” in 5 years after the latter of: (a) when the judgment was issued, or (b) the last time it was used to create a lien, generate a seizure, obtain a garnishment order, or any other similar effort.
This means that although Ohio's statute of limitations for judgment enforcement is at least fifteen years, in reality the best practice is to act at least once every five years so that your judgment does not become dormant. Often judgments are against more than one judgment debtor.
But a judgment from an Ohio court is valid for 5 years, and then becomes dormant unless revived, giving creditors the ability to collect on judgments for much longer. Section 2325.18(B) sets Ohio's statute of limitations for judgment enforcement at fifteen years.
A creditor can obtain a judgment lien by filing a certificate of judgment with the clerk of the court of common pleas in any county where the debtor owns or may own real property in the future. Real property includes land and fixtures on land such as a single-family home or condo.
The Judgment Creditor (the person who has the judgment) may file a motion to revive the judgment any time within ten (10) years after the judgment becomes dormant. If the court grants the motion the judgment is revived and the Judgment Creditor can take steps to collect the judgment.
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Ohio, a judgment lien can be attached to real estate only (such as a house, land, or similar property interest).
If an execution sale does not take place within a period of five years (where the plaintiff is someone other than the state) or between 10 and 15 years where the plaintiff is the state, the underlying judgment becomes dormant.
