I need to know the priority of debt payments for an estate that has more debts than money available to pay?

Answer 1

Priority is usually as follows:

1/ Govt liens i.e. IRS tax liens etc, are given a priority position
2/ Secured creditors with 1st priority lien....mortgages and other individual/UCC business liens with a 1st priority position
3/ Secured creditors with a 2nd priority position...secondary mortgages and other individual/business liens with a 2nd priority position.
4/ Unsecured creditors with a claim...those that have judgment liens entered agst the debtor for default paid off in order of date filed.
5/ Unsecured creditors...everyone else...

Answer 2

Judgments that have been recorded on the Mortgage records of that county or parish would need to be paid off first, to remove whatever liens there are against any property in the estate. They would be paid in the order of oldest (first ones recorded) to newest.

Answer 3

The government gets paid first.