Can a judgment lien be removed from a home title?

Can a judgment lien be removed from a home title?

Being able to erase a judgment lien from your home’s title is a noteworthy benefit of bankruptcy. Our last blog post was about preventing a creditor from getting a judgment against you, and from getting a judgment lien on your home.

What happens if a judgment lien is not satisfied?

It is important to note that if the property is transferred, sold, refinanced, gifted, or otherwise conveyed without the lien being satisfied, the judgment remains with the property. To be clear, judgments are against a person, but liens are not.

How does a creditor obtain a judgment lien?

A creditor obtains a judgment lien by winning a lawsuit against you. While creditors have numerous options to collect on a debt, creditors often use judgment liens as the primary way to ensure you actually pay the debt off. The creditor first obtains a judgment against you.

Can a creditor put a lien on the House of a deceased debtor?

With a judgment in hand, a creditor can attach a lien to the property of a debtor, including any homes. Creditors can even place property liens on a deceased debtor’s residence if allowed to do so by the courts.

What happens if you have a judgment lien on Your House?

So the existence of a judgment lien can take a debt that you can discharge—fully and permanently write off in bankruptcy—into a debt that you must pay in full. And until it is paid, it can haunt you and your home for many years. Judgment liens are dangerous for lots of reasons.

With a judgment in hand, a creditor can attach a lien to the property of a debtor, including any homes. Creditors can even place property liens on a deceased debtor’s residence if allowed to do so by the courts.

Where does a judgment lien go in San Francisco?

When she files the judgment in a county recorder’s office, it creates a judgment lien against all real estate the person owns in the county. For example, if the debtor lives in San Francisco, the creditor files the judgment with the Office of the Assessor-Recorder in City Hall at Justin Herman Plaza.

Can a judgment lien be erased in bankruptcy?

Clearly, if you have already been sued, have a judgment against you and a judgment lien on your home’s title, erasing that judgment lien would be a valuable benefit of bankruptcy. Most kinds of secured debts can’t be turned into unsecured debts in bankruptcy.