This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Lien On Jointly Owned Property In Kings
Category:
State:
Multi-State
County:
Kings
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Yes, a lien may be placed on property that is jointly owned. However, the effects of that lien depend on the type of ownership that the property is under.
The joint account held in the entireties, therefore, cannot be attached by a statutory lien, without the prior permission of the non-debtor account holder.
Yes, a lien can be placed on a jointly owned home in New York, but it is attached only to the debtor-spouse's interest (share) in the property.
A judgment is a general, involuntary, equitable lien on both real and personal property owned by the debtor.
The short and legal answer is YES, the creditor can force the sale of that half interest, but normally they won't. Part of the reason is that half of a property is not worth half of what the property is worth.
Involuntary Liens On the contrary, an involuntary lien can be placed on a property regardless of whether the owner wants it on their property. In other words, an owner's property can be claimed against their will if payments aren't made in a specified time period.
Regarding your question about jointly owned property, it is possible for a lien to be placed on it unless it is held "by the entirety," which is a special way that a deed can be held by a married couple. However, if it is not held in this specific manner, there is a potential for a lien to be placed.
Yes, a lien may be placed on property that is jointly owned. However, the effects of that lien depend on the type of ownership that the property is under.
