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file To place a document in the public records. All such documents are time and date stamped when received;this is important because the priority of deeds and of liens is usually on a race-to-thecourthouse,first-to-file basis.In many states,if a judgment is recorded against a seller only minutes before a deed to the buyer is recorded, then the buyer's new property is subject to the lien, which must be paid or the judgment creditor may execute and take the property and sell it for satisfaction of the debt. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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