A judicial foreclosure proceeding can be initiated at any time after default on a secured obligation or a judgment which constitutes a lien on real property. The following form is a complaint that adopts the "notice pleadings" format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
North Carolina Motion for Satisfaction of Money Judgment by Judicial Sale
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How to fill out Motion For Satisfaction Of Money Judgment By Judicial Sale?
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FAQ
If you are buying or own a house with land, the judgment becomes a lien on the property. This means it must be paid off before you sell or the creditor can force a sale to pay the judgment. Judgment accrues interest. In North Carolina a judgment accrues 8% interest from the time it is entered.
? At any time more than 10 days before the trial begins, a party defending against a claim may serve upon the adverse party an offer to allow judgment to be taken against him for the money or property or to the effect specified in his offer, with costs then accrued.
Enforcing Your Civil Judgement In North Carolina Step 1: Remember that Judgment Debtors Have Legally-Protected Rights. ... Step 2: File A Writ of Execution. ... Step 3: Observe the Legal Time Limits. ... Step 4: Analyze Risk before Litigating.
In North Carolina, a judgment is enforceable for 10 years from the date it was entered. After that point, it no longer can be enforced and is expired. Prior to the expiration of the judgment, the judgment creditor could seek to have it extended for another 10 years once.
Judgment accrues interest - In North Carolina a judgment accrues 8% interest from the time it is entered. Judgment can be enforced by execution/through Court process - A creditor with a judgment can attempt to use some of your property to pay the judgment.
A money judgment is enforced by a writ of execution, unless the court directs otherwise. The procedure on execution?and in proceedings supplementary to and in aid of judgment or execution?must with the procedure of the state where the court is located, but a federal statute governs to the extent it applies.
The Writ of Execution This writ of execution directs the Sheriff's Office to identify assets, seize them, and sell them at an auction, with the proceeds paid to satisfy the judgment.
