QUESTION
Would the lien be recorded on both pieces of property or just the house?
Asked on May 06th, 2013 on Bankruptcy - Michigan
More details to this question:
I got a judgment lien ($28000) in 1997. At the time, I owned a house in one town, and a small piece of unbuildable land (4000 s.f.) in another town valued at $1800. Would the lien be recorded on both pieces of property or just the house? Someone offered me $2500 for the land. Is there a way to find out if the lien is on both properties? The equity in the house was more than enough to cover the lien. Is there a limit to what they could attach? Also, how long for the duration of a lien?
4 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
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The law differs depending on the state where you live and the property is located.
Answered on May 10th, 2013 at 3:51 AM
Debt Collection Attorney serving Chicago, IL
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Edelman, Combs, Latturner & Goodwin, LLC
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A search of real estate records will show what the lien is recorded on.
Answered on May 07th, 2013 at 2:29 PM
The lien can be recorded against all real estate you own. You can find out by going to the county recorder's office in each county where you own real estate. You have a $40,000 homestead exemption on your residence that protects that amount of equity from the judgment lien. If you go through a bankruptcy, you can remove that judgment lien from your residence if you don'g have more than $40,000 of equity.
Answered on May 07th, 2013 at 2:29 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Given the length of time since the attachment of the lien I would suggest that before you take any action you converse with attorney. It may be that the judgment is so old that, if that was not renewed, it is no longer enforceable.
Answered on May 07th, 2013 at 2:28 PM