West Virginia Assignment of Operator's Liens
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FAQ
A judgment lien is a court ruling that gives a creditor the right to take possession of a debtor's property if the debtor fails to fulfill their contractual obligations.
On a judgment for the recovery of specific property, real or personal, a writ of possession may issue for the specific property, which writ shall conform to the judgment as to the description of the property, and the estate, title, or interest recovered.
Judgment Liens: State Va. Code §8.01-458 and 8.01-251 Expire 20 years from date entered, and may be renewed for an additional 20 years *** If real estate has been conveyed to a BFP, the lien is unenforceable 10 years after date of transfer. Known as ?10 year out of title? rule.
WEST VIRGINIA The lien will continue for 10 years from the date of entry. W.Va. Code § 38-3-7. The judgment may be renewed for an additional 10 years.
Mechanics liens in West Virginia need to be filed and recorded in the county clerk's office in the county where the property is located. Each clerk's office will have its own filing fees and other specific requirements.
Assignable Liens With an assignable lien, the association can sell, or 'assign', the lien to any third party. Investors are attracted to association liens because they can eventually purchase the property in foreclosure, typically at a discounted rate.
