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.
New York Lien on Real Property Regarding Judgment in a Federal Court
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FAQ
Personal Property Execution The Judgment Creditor may file or request a Property Execution asking that the property be seized and sold with the sole proceeds being used to pay off the balance due on the Debtor's judgment. There is no charge for filing or requesting a Property Execution.
If an injured party wins a lawsuit against you, just about anything of value could be seized, including: Bank accounts. Boats. Jewelry. Real estate. Vehicles.
New York State judgments are valid for 20 years. A judgment can act as a lien on real property for ten years which may be extended for an additional term if you to take affirmative action.
The following kinds of personal property are exempt from collection and cannot be seized by a Marshal: (1) household goods such as appliances, clothing, or furniture; (2) necessary medical equipment, like wheelchairs; (3) one each of a cell phone, radio, computer, and television; (4) personal items such as art or ...
If you have an unpaid debt, a creditor can sue you to get a judgment against you. This allows them to garnish your wages, levy your bank account, or file a judgment lien against your home or car.
New York Civil Practice Law & Rules Article 52 - ENFORCEMENT OF MONEY JUDGMENTS. 5201 - Debt or Property Subject to Enforcement; Proper Garnishee. (a) Debt against which a money judgment may be enforced. A money judgment may be enforced against any debt, which is past due or which...
The Judgment Creditor may file or request a Property Execution asking that the property be seized and sold with the sole proceeds being used to pay off the balance due on the Debtor's judgment. There is no charge for filing or requesting a Property Execution.
Yes, a lien may be placed on property that is jointly owned. However, the effects of that lien depend on the type of ownership that the property is under.
