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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Lien: An encumbrance on real property or personal property to secure a debt or to protect a claim for payment of a debt. It is a claim or charge on the debtor's property that must be satisfied before the property is available to satisfy the claims of other creditors.
State tax liens are active for 10 years. You cannot sell or refinance your property until you pay off your tax lien and receive a clear title. Tax liens may lower your credit rating and impact your ability to get loans or financing.
An action to enforce a Nebraska mechanics lien must be initiated by the project participant within 2 years after filing the lien. If the property owner or other interested party demands initiation, the deadline will be changed to 30 days from receipt of a written request for action.
A judicial lien is created when a court grants a creditor an interest in the debtor's property, after a court judgment.
Nebraska Civil Statutes of Limitations at a Glance There is also a four-year limit for fraud, trespassing, oral contracts, and some other causes of action. For judgments and written contracts, there is a five-year statute of limitations.
A judgment lien in Nebraska will remain attached to the debtor's property (even if the property changes hands) for five years.
A properly recorded lien is enforceable for two years, unless the owner or other person having an interest in the property makes a written demand upon the claimant to institute judicial proceedings on the lien, in which case the claimant has 30 days to enforce the lien.
