This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Against Property With Rem In Minnesota
Category:
State:
Multi-State
Control #:
US-0025LTR
Format:
Word;
Rich Text
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Description
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FAQ
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.
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Minnesota, a judgment lien can be attached to real estate only (such as a house, land, or similar property interest).
If the married couple or joint owners of a property do not have a tenancy by the entireties title, any lien can attach to the person's interest in the property. Whether it's judgment or confessed judgment, the lien will attach to the homeowner's interest, making the lienor a co-owner of the property.
All final judgments constitute a lien upon real estate, subject to execution for 10 years.
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.
In Minnesota, an action to enforce a mechanics lien must be initiated within 1 year from the date of the lien claimant's last furnishing of labor or materials to the project. If a claimant records their lien close to Minnesota's 120-day filing deadline, they will have about 8 months to enforce the claim.
