2007-09-26 10:24:53 · 7 answers · asked by 5428 2 in Business & Finance ➔ Renting & Real Estate
A judgement is usually made against the person who owns the property, while the lien is made against the property. In other words, the judgement comes first, then the lien. The lien must be satisfied (paid) first when the property is sold or transfered.
2007-09-26 10:28:21 · answer #1 · answered by Cheryl G 7 · 0⤊ 0⤋
A lien is tied to the title. A lien was placed on the title saying we own part of this property. A judgement normally has nothing to do with the title. They say we have a judgement and any equity we have a right too. It clouds the title.
A lien is permanent a judgement clouds the title. Meaning a title insurance company will make you pay the judgement in most cases because they cant clear the property.
Basically. Lien was originally put on the title, judgement was something else you did and that creditor decided to attach your property, they feel they have an interest in your property. ie... cloud your title.
2007-09-26 10:30:27 · answer #2 · answered by financing_loans 6 · 1⤊ 0⤋
Judgement Lien Definition
2016-12-28 04:59:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
This Site Might Help You.
RE:
what is the difference in a lien and a judgement against property? tyvm?
2015-08-19 01:52:18 · answer #4 · answered by ? 1 · 0⤊ 0⤋
a judgement is a court order awarding money damages to one party against the other, and in the case of property, preventing the property from being sold until the judgement is paid. A lien is the actual hold document preventing the property's sale. It is entered in property records where the property's deed is recorded and this will come up in a title search in case the judgement debtor decides to try selling the property without paying to get out from under the court order.
2007-09-26 10:32:05 · answer #5 · answered by Mike 7 · 0⤊ 0⤋
A judgment is comprised ot two elements; a note for the amount due anda lien that attaches to any real property to wich the debtor is in title. If the debtor owns no real property the note may be collected by garnishment of wages, or asset accounts.
If the borrower subsequently goes into title on real property the judgment immediately attaches precluding a mortgage lender from securing the first lien which is usually what is acceptable to the investors who provide financing for home loan purchases.
2007-09-26 10:30:07 · answer #6 · answered by Anonymous · 0⤊ 0⤋
My question is. I have a couple judgement liens on my "primary" property. My mother passed away and My name was placed on my mothers house alone with my sisters and brothers name. We are trying to sell the house and the liens are attached. The liens were placed on my property, why or could it attach to other property my name was put on after the judgements?
2013-12-02 05:37:34 · answer #7 · answered by Patricia Young 1 · 0⤊ 0⤋
a judgement simply is to show that you lost the case against you for past due rent and it will show on your credit report.
a lien is showing the same thing but by filing for the lien, the entity owed the money is guaranteed payment prior to you buying property or recieving monies from sale of property.
that's the most basic way to explain it.
2007-09-26 10:30:33 · answer #8 · answered by outofmymind 4 · 0⤊ 0⤋
Usually, a lien is something you choose to put on the property (like a loan) and a judgment is something someone else put on it (someone you owe money to). A lien is easily cleaned up, but a judgment is not. Hope that helps.
2007-09-26 10:29:22 · answer #9 · answered by Mandy P 2 · 0⤊ 0⤋
Is it legal to hold a judgement against a title on the property with a homestead exemption on the property?
2015-04-09 13:08:42 · answer #10 · answered by Bski 1 · 0⤊ 0⤋