QUESTION
I lent someone money, $5000.,. Had them sign a promissory note that was due to be paid back Oct 2017. Can a lein be put against their condo?
Asked on May 09th, 2018 on Breach of Contract - Pennsylvania
More details to this question:
My son's girlfriend borrowed money to pay her morgage and condo fees. She signed a promissory note with a notary as witness. Now she is avoiding repayment. Can a lein be placed on her condo. She also has a slip and fall settlement pending. I was lead to believe it would be settled by the end of 2017, and repayment would occur. To my knowledge the settlement has not happened, and after several conversations and texts, she recently sent me a check for $20., as the first installment of 250. My husband and I are retired, living on a fixed income raising one of our grandchildren. We realize that we made a major error in judgment, but is there anything that can be done?
1 ANSWER
Unless your contract (or a statute, like a mechanic's lien) provideed for it, you can't impress a lien on the debtor's property until you obtain a court judgment that she owes you the money you claim. You must sue her for breach of the loan contract. When you win and get a judgment, you will be able to utilize a variety of collection devices to collect on the judgment, including placing liens on her assets (e.g. the condo) and foreclosing on them. Of course, if she has no equity in the condo, and no other assets to pay back the debt, you may not be able to collect anyway.
Answered on May 09th, 2018 at 12:33 PM