Judgment Lien Forms With Mortgage In Phoenix
Description
Form popularity
FAQ
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.
How does a creditor go about getting a judgment lien in Arizona? To attach the lien, the creditor files and records a judgment with the county recorder in any Arizona county where the debtor owns property now or where they may own property in the future.
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). ”.
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.
A mortgage is a specific, voluntary lien. It is specific to the piece of property and is voluntary because it was agreed to by the property owner. A judgment lien is an example of a general, involuntary lien. Judgment liens can be applied against any of an individual's assets.
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.
A judgment lien is considered a nonconsensual lien because it is attached to a piece of property without the owner's consent or agreement.
How does a creditor go about getting a judgment lien in Arizona? To attach the lien, the creditor files and records a judgment with the county recorder in any Arizona county where the debtor owns property now or where they may own property in the future.
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.
