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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A judgment lien is a type of non-consensual lien (a lien that attaches to a property without the owner's agreement). It's created when someone wins a lawsuit against the property owner and then records the judgment against an asset such as a house, land, bank account, or other personal assets.
Tennessee judgments are good for 10 years. Tenn. Code Ann. § 28-3-110(2) limits the life of a judgment and provides that ?actions on judgments and decrees of courts of record of this or any other state or government ?
Lien Notation Send the completed form. Include all necessary support documentation. ... Include all fees. Lien notation fee: $11 per lien. County clerk fee: $8.50. State title fee: $5.50. Additional county fees may also apply. ... Information should be submitted to your local county clerk's office.
Under Tennessee law, however, a creditor of one spouse may get a lien on the survivorship interest of such debtor -spouse.
Creditors Can Go After Some Jointly Held Assets In the event an estate does not possess or contain adequate assets to fulfill a valid creditor claim, creditors can look to assets in which heirs might possess interest, if: The assets are joint accounts. The assets are considered community property.
Specifically, Rule 69.04 of the Tennessee Rules of Civil Procedure provides that: Within ten years from the entry of a judgment, the creditor whose judgment remains unsatisfied may file a motion to extend the judgment for another ten years.
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.
As part of a typical judgment, the court orders the payment of money from one person to another. But the person who owes the money (the debtor) doesn't always pay up. A judgment lien is one way to ensure that the person who won the judgment (the creditor) gets what he or she is owed.
