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 Michigan
Category:
State:
Multi-State
Control #:
US-0025LTR
Format:
Word;
Rich Text
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Description
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FAQ
A judgment creditor can file a lien with the court 22 days after the judgment is entered against the debtor, provided that the debtor has not appealed or moved to set the judgment aside. The lien is then sent to the register of deeds for recording in the county where the debtor lives.
Judgment liens may simply be filed and recorded by an attorney. There is no personal confrontation with the defendant and no personal property is seized. Service of the judgment lien on the judgment debtor is by certified mail if the judgment is less than $25,000.
(1) Unless subsection (2) or (3) applies, a judgment lien expires 5 years after the date it is recorded.
If the Notice of Commencement is not filed, there is no requirement for subs and suppliers to provide preliminary notice in order to retain lien rights. ingly, the property could be encumbered by a lien filed by a party that the owner or GC didn't even know was on the job.
Creditors of one spouse cannot put a lien on the property. However, if both spouses are liable for the same debt, the creditor can reach the property. If the couple gets divorced, the tenancy by the entirety becomes a tenancy in common, unless their judgment of divorce states otherwise.
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.
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.
Creditors Can Go After Some Jointly Held Assets In the event an estate does not possess or contain adequate assets to fulfill a valid creditor claim, creditors can look to assets in which heirs might possess interest, if: The assets are joint accounts. The assets are considered community property.
