This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Against Property With Bad Credit In Phoenix
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-0025LTR
Format:
Word;
Rich Text
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FAQ
Arizona's homestead exemption exempts up to $150,000 of a person's equity in their dwelling from attachment, execution or forced sale. The exemption applies to a person's house and land, condominium or cooperative, mobile home or mobile home and land.
Arizona law also has a statute that states “pursuant to the judgment lien statutes, a recorded judgment becomes a lien on all real property owned by the judgment debtor, A.R.S. § 33-961(A), unless the property is “exempt from execution, including homestead property.” A.R.S. § 33-964(A). ”.
A judgment lien can be placed after a creditor wins a lawsuit, and this can occur without direct notice to the property owner. Hidden liens are especially problematic as they are often discovered only when a property title search is conducted during refinancing or sale.
The answer to your question is generally no. If someone wants to put a lien on the property, they must get the court's approval to do so. For example if it is a contractor, then they must advise the owner of their intent to place a lien on a home.
Generally, a creditor cannot take one's home to satisfy a debt. This is called Arizona's homestead exemption, and applies to a person's home. Read ARS 33-1101 for a better understanding of homestead exemptions in Arizona.
Except as provided in sections 33-729 and 33-730, from and after the time of recording as provided in section 33-961, a judgment shall become a lien for a period of ten years after the date it is given on all real property of the judgment debtor in the county in which the judgment is recorded, whether the property is ...
The exempt property may include community, joint or separate property of the judgment debtor. B. If the judgment debtor dies or absconds and leaves a spouse or dependent any property that is exempt under this section, the property remains exempt to the spouse or dependent.
Arizona has protections in place for those declaring bankruptcy in the state. The Arizona homestead exemption, for example, protects your primary residence during bankruptcy if you have no more than $150,000 in equity. Likewise, retirement and pension accounts like 401(k)s and IRAs are exempt during bankruptcy.
More info
Small claims court cases are held in justice court locations. How long does a judgment stay on your credit report?As of 2018, judgments are no longer reported, so they don't show up on credit reports. If there is no judgment there can't be a lien (exempt for certain tax debts and HOA debts). Leave the case number blank; the Clerk of Superior Court gives you the number when you file. ▫ If you have no attorney, leave those lines blank. Get a credit report. Does the defendant own real estate? In Arizona divorce laws, Community property includes both assets and debts. A counterclaim may be included in the answer or you can file it as a separate document (Form No. AOCLJCV5F).
