A judgment lien is created when a court grants a creditor an interest in the debtor's property, based upon a court judgment. A plaintiff who obtains a monetary judgment is termed a "judgment creditor." The defendant becomes a "judgment debtor."
Judgment liens may be created through a wide variety of circumstances. Laws regarding judgment liens vary by jurisdiction, so local laws should be consulted.
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Kentucky Judgments (both domestic and foreign judgments domesticated in Kentucky) are valid for fifteen (15) years and can be renewed. See KRS 413.090. The statute begins to run from the date execution was last issued.
Q: What forms do you accept to release a lien? A: The Kentucky County Clerk's Association voted to only accept one of the following forms to release vehicle liens: Original Clerk's Filing Receipt, Title Lien Statement (Form TC96-187), or a UCC-3 Financing Statement Amendment.
Kentucky is not a community property state, so the general rule is one spouse not liable for the other spouse's separate debt, with the exception of medical debt. Kentucky Collection Laws | Bills.com bills.com ? learn ? debt ? kentucky-collectio... bills.com ? learn ? debt ? kentucky-collectio...
If the creditor wins in court and you can't pay what you owe, the creditor may try to take some of your income or property to pay the debt. This must be done through a legal process which will give you written notice and a chance to request a hearing before anything is taken.
If the married couple or joint owners of a property do not have a tenancy by the entireties title, any lien can attach to the person's interest in the property. Whether it's judgment or confessed judgment, the lien will attach to the homeowner's interest, making the lienor a co-owner of the property.
If you own real estate jointly with a spouse in a common law property state (and you don't own the property as tenants by the entirety), then a creditor may be able to put a lien on that property, whether or not you were ever individually liable on that debt. Real Estate Liens on Jointly Owned Property - Nolo nolo.com ? legal-encyclopedia ? real-estate-l... nolo.com ? legal-encyclopedia ? real-estate-l...
If the married couple or joint owners of a property do not have a tenancy by the entireties title, any lien can attach to the person's interest in the property. Whether it's judgment or confessed judgment, the lien will attach to the homeowner's interest, making the lienor a co-owner of the property. Can a Lien be Placed on Jointly Owned Property? | Coover Law cooverlaw.com ? FAQs ? Real Estate FAQs cooverlaw.com ? FAQs ? Real Estate FAQs
Expiration of Judgment Liens Now, the length of time a judgment lien is valid is determined by KRS 426.720(2). A judgment lien that was created before the effective date of HB 83, July 1, 2023, will expire either 10 years from the effective date or 15 years from the date of final judgment, whichever date is earlier.
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Kentucky, a judgment lien can be attached to real estate only (i.e., a house or similar property interest).
