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 Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Joint Owner's Debts Could Become Your Problem For example, if you add your adult child to the deed of your home and they have undisclosed debts, your property could be at risk of being seized to settle those debts.
Liens on jointly-owned property If a married couple owns a house through a special quality of title called “tenants by the entireties” an individual creditor cannot place a lien on the property.
Unfortunately, the IRS can seize jointly owned homes even if just one of the owners owes back taxes. The lien attaches to the entire home and can be subject to a seizure and judicial sale.
The following kinds of personal property are exempt from debt collection and cannot be seized: Household goods, like furniture, clothing, and appliances. Medical equipment, such as a wheelchair. One television, one radio, one computer and one cell phone.
Can Personal Property Be Seized In A Pennsylvania Judgement? Judgments from Magisterial District Court and Court of Common Pleas. A plaintiff can seize tangible personal property which are items such as household furnishings, jewelry, and business and office equipment.
The answer to your question is yes. If a party jointly owns a debt with a debtor, then the creditor can still put a lien on any property owned by the debtor, regardless of who else has ownership in it.
In Pennsylvania, married couples typically hold their joint real and personal property as "tenants by the entireties." A judgment creditor of one spouse cannot execute against such joint marital property, including homes, joint bank accounts, vehicles, etc.
Jointly owned property If you or an entity owns property with another, a creditor may or may not be able to seize, garnish or levy against such property depending upon the nature of the ownership and the applicable state law.
To obtain a judgment lien, you must first record the judgment with the court of common pleas in the county where the debtor owns property. The lien will stay in effect for five years, but can be renewed, if the debtor does not sell the property within that time period.
