This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Against Property For Sale In San Diego
Category:
State:
Multi-State
County:
San Diego
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Generally, the party seeking to sell or transfer the property will need to satisfy the judgment by paying the amount owed to the judgment creditor, or negotiate a settlement or release with the creditor.
For example, a mortgage has priority over a judgment lien if the lender records it before the judgment creditor records its lien.
Judgements can become a first lien against a property. Lenders generally want to be first lien when it comes to mortgages. So yes, it will be deal breaker for most mortgage companies. I've seen mortgages get denied because of a $6000 judgement.
Generally, the party seeking to sell or transfer the property will need to satisfy the judgment by paying the amount owed to the judgment creditor, or negotiate a settlement or release with the creditor.
Here are four ways to avoid paying a judgment: 1) Use asset protection tools such as an asset protection trust, 2) use legal exemptions, 3) negotiate with the creditor, 4) file for bankruptcy.
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.
The person assigning the judgment (the seller) to you (the buyer) must sign the form in the presence of a notary. The form must be signed and stamped by the notary. Once this is done, the form becomes the original that the court needs.
Exemption from the Enforcement of Judgments Type of PropertyCode Social Security Direct Deposit Accounts (the account itself) CCP § 704.080 Wages CCP § 704.070 Public Assistance (Welfare) CCP § 704.170 W&I § 17409 Charity; Fraternal Benefit Funds CCP § 704.17027 more rows
Personal property such as medical equipment, work tools, and basic household items are generally exempt from seizure by a judgment creditor. Negotiating a payment plan with the creditor is often the best approach to avoid prolonged and stressful collection efforts.
To do this, fill out an EJ-001 Abstract of Judgment form and take it to the clerk's office. After the clerk stamps it, record it at the County Recorder's Office in the county where the property is located. Place a lien on a business.
