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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Abstract of Judgement questions... Posted by Rick CA on August 09, 2007 at 3:35 PM In Reply to: Abstract of Judgement questions... posted by Ward-CA- on April 18, 2003 at 9:40 PM : : Hi, Ward : : Question about an AJ. If I took a property sub2 mortgage (say, in a preforeclosure situation) and there was an outstanding AJ, when will that have to be paid off? Could I wait until I sold the property retail down the road or would I have pay it off immediately? In fact, what prevents the seller from just deeding me the property to my name and, hence, seperating the AJ lien from this particular property? And how is this lien going to even show up on a title search when I eventually sell it retail? It's not attached to me but to the former owner (it's a "general" lien). I guess I don't understand these as well as I thought. : : John-CA : =•=•=•=•=•=•=•=•=•=•=•= : #1. An abstract of judgment automatically attaches to any real property in a judgment debtor’s name in the same county where the judgment was recorded. Once the judgment has attached to real property it can only be removed by (1) recording of a satisfaction of judgment issued by the judgment creditor; or (2) being wiped off the title of the property by the foreclosure of a senior lien; or (3) by not renewing the abstract of judgment prior to its 10th year of existence; or (4) being discharged by a bankruptcy if the abstract of judgment was less than 90 days old. : #2. Generally an abstract of judgment will have to be satisfied prior to the sale or refinance of the burdened property. : #3. Simply deeding the property’s title to someone else won’t rid it of a recorded abstract of judgment. : #4. Like any other lien, once an abstract of judgment attaches to a judgment debtor’s property it will remain until it’s been satisfied, regardless of the debtor’s subsequent comings and goings. So, if a property is bought at auction from lender due to foreclosure, the AJ is expunged from the property so long as the AJ was recorded subsequent to the foreclosing lienholder? And if AJ recorded prior, somehow missed by foreclosing lienholder let's say, you would still be required to pay it? Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Hi, Ward : : : Question about an AJ. If I took a property sub2 mortgage (say, in a preforeclosure situation) and there was an outstanding AJ, when will that have to be paid off? Could I wait until I sold the property retail down the road or would I have pay it off immediately? In fact, what prevents the seller from just deeding me the property to my name and, hence, seperating the AJ lien from this particular property? And how is this lien going to even show up on a title search when I eventually sell it retail? It's not attached to me but to the former owner (it's a "general" lien). I guess I don't understand these as well as I thought. : : : John-CA : : =•=•=•=•=•=•=•=•=•=•=•= : : #1. An abstract of judgment automatically attaches to any real property in a judgment debtor’s name in the same county where the judgment was recorded. Once the judgment has attached to real property it can only be removed by (1) recording of a satisfaction of judgment issued by the judgment creditor; or (2) being wiped off the title of the property by the foreclosure of a senior lien; or (3) by not renewing the abstract of judgment prior to its 10th year of existence; or (4) being discharged by a bankruptcy if the abstract of judgment was less than 90 days old. : : #2. Generally an abstract of judgment will have to be satisfied prior to the sale or refinance of the burdened property. : : #3. Simply deeding the property’s title to someone else won’t rid it of a recorded abstract of judgment. : : #4. Like any other lien, once an abstract of judgment attaches to a judgment debtor’s property it will remain until it’s been satisfied, regardless of the debtor’s subsequent comings and goings. : So, if a property is bought at auction from lender due to : foreclosure, the AJ is expunged from the property so long : as the AJ was recorded subsequent to the foreclosing lienholder? : And if AJ recorded prior, somehow missed by foreclosing lienholder : let's say, you would still be required to pay it? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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