Judgment Lien On Personal Property Form California In Maricopa
Description
Form popularity
FAQ
A certified copy of the judgment of any court in this state may be filed and recorded in the office of the county recorder in each county where the judgment creditor desires the judgment to become a lien on the real property of the judgment debtor.
A Judgment is enforceable for ten (10) years from date of Judgment. The Judgment may be renewed prior to the expiration of the Judgment date for an additional ten (10) years. The Judgment belongs to you, the Judgment Creditor. You may or may not collect.
The first step to filing a mechanics lien is to record a Notice and Claim of Lien within 60 days after the property owner has recorded a Notice of Completion. If a notice has not been recorded, however, you will have 120 days after the completion of the project to record the claim.
How does a creditor go about getting a judgment lien in Arizona? To attach the lien, the creditor files and records a judgment with the county recorder in any Arizona county where the debtor owns property now or where they may own property in the future.
If a judgment is granted by the Court in these lawsuits then the creditors could put a judgment lien on your home to secure the debt. However, taking that next step and foreclosing on the judgment lien is extremely rare. First, Arizona law allows a homeowner to protect up to $250,000 of net equity in their residence.
The law only protects a maximum of $150,000 of equity, so if the person's equity in a home is valued at more than $150,000 a creditor may force the sale of the property only if the proceeds from the sale would cover the homestead amount plus all liens/debts owed.
