Judicial lien is a lien obtained by judgment, levy, sequestration or other legal or equitable process or proceeding. If a court finds that a debtor owes money to a creditor and the judgment remains unsatisfied, the creditor can ask the court to impose a lien on specific property owned and possessed by the debtor. After imposing the lien, the court issues a writ directing the local sheriff to seize the property, sell it and turn over the proceeds to the creditor.
Under Bankruptcy proceedings, a creditor can obtain a judicial lien by filing a final judgment issued against a debtor through a lawsuit filed in state court. A certified copy of a final judgment may be filed in the county in which the debtor owns real property. A bankruptcy debtor can file a motion to avoid Judicial Lien. A Motion to avoid Judicial Lien can be filed by a debtor in either a chapter 7 or chapter 13 bankruptcy proceeding. In a Chapter 7 proceeding, an Order Avoiding Judicial Lien will remove the debt totally.
New Mexico Motion to Avoid Creditor's Lien is a legal document filed by debtors seeking to eliminate a creditor's lien on their property or assets. This motion provides individuals in New Mexico with a chance to protect their property from being seized by creditors following a judgment or for recovering a debt. There are several types of New Mexico Motion to Avoid Creditor's Lien, including: 1. Homestead Exemption Motion: This type of motion is often used by homeowners seeking to protect their primary residence from being subject to a creditor's lien. The New Mexico Homestead Exemption allows debtors to exempt a certain amount of their home's equity from being seized. 2. Vehicle Exemption Motion: Debtors who own a vehicle and wish to prevent it from being subject to a creditor's lien can file a motion specifically targeting their vehicle. In New Mexico, a debtor can exempt up to a certain value of their vehicle using the state's vehicle exemption laws. 3. Non-Homestead Property Exemption Motion: This motion applies to debtors looking to protect non-homestead properties, such as vacation homes or investment properties, from a creditor's lien. It allows debtors to claim exemptions on specific types of property based on their value and use. 4. Personal Property Exemption Motion: Debtors who want to protect their personal belongings, including furniture, electronics, and other household items, from being seized by creditors can file this motion. It helps individuals retain essential personal property necessary for everyday living. When filing a New Mexico Motion to Avoid Creditor's Lien, it is crucial to provide detailed information about the specific type of lien being challenged, the property or assets in question, their estimated value, and the legal grounds for seeking an exemption. Additionally, supporting documentation such as property appraisals, loan agreements, and payment history may be required to substantiate the claim. Overall, the New Mexico Motion to Avoid Creditor's Lien gives debtors the opportunity to shield their property from creditor claims and provides a legal avenue for securing exemptions based on various categories of assets or properties. It is essential for individuals facing potential asset seizure to consult with a qualified attorney familiar with New Mexico bankruptcy laws to ensure they navigate the process successfully and protect their rights.
