judgment lien


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judgment lien

A lien on all property of a judgment debtor as a result of the entry of a judgment, the failure to appeal, and the filing of some document in the public records as evidence of the judgment.

References in periodicals archive ?
Judgment liens are basically "first in time" liens, as are tax liens, which certainly does not seem like it would be complicated.
As discussed earlier, under prior case law the judgment creditor was required to serve all judgment debtors in a revival action and not merely those with interests in property subject to a judgment lien, (31) except for legal representatives of deceased defendants or dissolved legal entities.
Direct proceedings to impose and enforce a foreign judgment lien did not exist prior to the act and no Florida statute of limitation was necessary.
There may be a question as to the ability of a creditor to levy on assets of the debtor after expiration or lapse of the judgment lien certificate.
One such glitch is the requirement to include Social Security numbers in the judgment lien certificate.
Practice Tip: If you intend to perfect a judgment lien against a client's personal property, you should be aware that the statutory requirements in this area have changed significantly as of October 1, 2001.
081 places a limit of 20 years on the life of the judgment lien.
Historically, title companies and lenders ignored judgment liens that were greater than 10 years old as beyond the sub-statute of limitations and their underwriting guidelines instructed underwriters that any judgment lien not renewed prior to expiration could no longer be a lien on real property.
It cannot be ignored that almost any judgment lien of a creditor clouds the title.
Chase claimed all of the $300,000 surplus money, since its initial $100,000 mortgage was placed on the property before Selma Kent docketed her $408,000 judgment and in addition, the remaining mortgages of Chase were superior to the claim of Selma Kent because of her subordination agreement, under which her judgment lien became secondary to the new Chase mortgage.
For judgments of Florida state courts, the statute of limitation for independent actions and the duration of the judgment lien are the same 20 years,[54] and this question is therefore academic.
Certain below-the-surface issues affecting a property such as unsatisfied mortgages, invalid quit claim deeds, judgment liens, probate issues and enforcement liens can all lead to title defects that can prevent any future sale from occurring without a resolution.