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Judgment Against Property With Lien In Utah
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Multi-State
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US-0025LTR
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FAQ
And a homeowner may find it difficult to sell any property that has a lien against it. Prospective buyers may avoid a property to which someone else has a claim.
If someone believes a wrongful lien has been placed on their real property, they can ask the court for an injunction to remove or "nullify" the lien by filing a petition.
The judgment lien is not going to impact a homesteaded property so the mortgage lender would be able to obtain a first lien on your property. So, as long as you otherwise qualify for a mortgage, the judgment lien should not be a problem.
Creditors typically acquire property liens through your voluntary consent. On the other hand, creditors get judgment liens after winning a lawsuit against you for a debt you owe.
What Do You Do When There Is A Judgment Lien On Your Property, But The Judgment Has Expired? Judgments have expiration dates. If they are not timely renewed, they expire. In CA that is 10 years.
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.
Essentially, consensual liens don't adversely affect your credit as long as repayment terms are satisfied. Judgment and most statutory liens have a negative impact on your credit score and report, which affect your ability to obtain financing in the future.
Most judgment liens last for 10 years and can be renewed for another 10 years. For example, the creditor could place a judgment lien on your home which would inhibit you from selling the property without first paying the creditor what you owe.
More info
File the judgment or Abstract of Judgment in the office of the County Recorder in the county in which the debtor's real property is located. In Utah, a property lien can be used to collect a court judgment.Here's how it works. A judgment or notice of judgment wrongfully filed against real property is subject to Title 38, Chapter 9, Wrongful Lien Act. (9). Wrongfully filing a judgment lien on real property is illegal under Utah law. Understand Utah mechanics lien laws, deadlines, and notice requirements on private construction projects, including free forms. Especially in Utah, where judgement liens can remain attached to your property for up to eight yearseven if it changes hands. A judicial lien is created when a court grants a creditor an interest in the debtor's property, after a court judgment. When you record a lien against the judgment debtor's property, you have notified the world that the property owner owes you money. How can I find out what liens are on a property?
