Judgment Lien On Personal Property In Nassau
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FAQ
In a Nutshell This court order allows them to collect on the debt by seizing your real or personal property (or putting a lien on it), garnishing your wages, or levying your bank account. Personal property includes everything from household goods to vehicles. Real property includes things like your home or land.
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.
The short answer is yes, but it's not always easy or common for a judgment creditor to take your car. If a creditor sues you and wins, they can request a judgment lien against your property, including your car.
Personal Property Execution If a Judgment Creditor knows that the Judgment Debtor owns a car, truck, motorcycle or other personal property of significant value, the Judgment Creditor may file a Property Execution.
And a homeowner may find it difficult to sell any property that has a lien against it. Prospective buyers may avoid a property to which someone else has a claim.
Personal Property Execution If a Judgment Creditor knows that the Judgment Debtor owns a car, truck, motorcycle or other personal property of significant value, the Judgment Creditor may file a Property Execution.
The judgment lien is not going to impact a homesteaded property so the mortgage lender would be able to obtain a first lien on your property. So, as long as you otherwise qualify for a mortgage, the judgment lien should not be a problem.
