Judgment Lien On Personal Property In Middlesex
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Yes, it happens. Sometimes a court decision or settlement results in a lien being placed on a property without the owner's immediate knowledge. This typically occurs when a court-ordered lien or certificate of judgment is issued against you and recorded at the county recordings office.
The most common type of lien is what's usually referred to as a Mechanic's Lien. Sometimes called "construction liens," "laborer liens," or "artisan's liens," they are filed by contractors, subcontractors, or construction firms.
Of the three types of liens (consensual, statutory, and judgment), the judgment lien is the most dangerous form, but one which the informed business owner may be able to eliminate. A judicial lien is created when a court grants a creditor an interest in the debtor's property, after a court judgment.
Judgments in New Jersey remain in effect for 20 years and may be renewed for an additional 20 years by filing a motion in the Superior Court, Law Division, Civil Part and/or in the Special Civil Part if the Special Civil Part case was assigned a DJ or J docket number.
What Do You Do When There Is A Judgment Lien On Your Property, But The Judgment Has Expired? Judgments have expiration dates. If they are not timely renewed, they expire. In CA that is 10 years.
Creditors typically acquire property liens through your voluntary consent. On the other hand, creditors get judgment liens after winning a lawsuit against you for a debt you owe.
It shows up on your credit report as well as on any background checks. The judgment is considered a lien against your property, including any real estate that you have, in the state in which the judgment is filed.
The first step in judgment enforcement in New Jersey is obtaining a writ of execution which allows for the seizure of property to satisfy the judgment. This can include: Personal property such as cars and equipment. Business interest such as stocks.
