Judgement Lien Foreclosure In San Antonio
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FAQ
File a Judgment Lien If the judgment debtor owns property, you can place a judgment lien on their property. This way, if the debtor sells the property, you will be entitled to receive the amount of your judgement from the proceeds. Some property is exempt from judgment liens in the state of Texas, however.
Satisfy the Judgment: Paying the debt in full is the most straightforward way to remove the lien. Obtain a satisfaction of judgment from the creditor and file it with the court.
Generally, to file a judgment lien, an abstract of judgment must be issued by the justice court. Some justice courts have a form available on their website to request an abstract of judgment.
Do judgments expire in Texas? Judgments awarded in Texas to a non-government creditor are generally valid for ten years but can be renewed for longer. If a judgment is not renewed, it will become dormant.
The second mortgage lender and the judgment creditor would receive nothing, and their liens would be wiped out in the foreclosure. But that doesn't mean that those debts disappear. They become unsecured debts.
The former owner will have to petition the county to turn over the surplus funds. If no one petitions to recover them, the surplus funds generally can be held by the county for two years before they are distributed to the taxing bodies that foreclosed on the property.
The type of lien that is not eliminated by a foreclosure sale is the property tax lien. This lien holds priority over most others and must be satisfied first.
A suit to foreclose a lien against residential property must be brought within one year after the last day the claimant could have filed a lien affidavit under Texas Property Code §53.052 or within one year after completion, termination, or abandonment of the work under the original contract under which the lien is ...
The effect of foreclosure is to cut off and eliminate junior liens, including mechanic's liens, but not tax obligations. Most foreclosures in Texas are non-judicial.
Selling a house with a lien can get complicated, but it's still possible. You'll need to take steps to clear the title so you can transfer the property to the buyer.
