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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] No, the AJ won't attach to prop. the debtor doesn't own... Posted by Ward-CA- on January 29, 2004 at 9:26 AM In Reply to: Will this Judgment attach to the Property? posted by David F on January 28, 2004 at 11:20 PM : Ward, : HERE IS THE SITUATION: : Husband grant deeds the property to his wife in October 2001. In January 2002, he receives power of attorney from his wife. In September 2002, husband has an abstract judgment recorded against him in the same county in which the Property is located. : QUESTIONS: : 1. Does this judgment put a cloud on title? : 2. If I buy this property now, subject to existing liens, what problems will I have selling it on the retail market due to this AJ? : 3. Would the title company I use to resell this property easily see that this AJ is or is not a problem? : 4. Would you or would you not recommend getting title insurance when I purchase this property? : 5. How does the fact that he has power of atty affect the state of title? : Thanks in advance! : David ========================== David, ANSWERS: #1. A recorded judgment will cloud the title of any property in the county that's in the name of the judgment debtor. In this instance the husband transferred his interest into his wife's name about a year before the abstract of judgment (AJ) was recorded. So at the time the AJ was recorded the property wasn't in the judgment debtor's name (so it wouldn't attach to that property). #2. You shouldn't have any trouble with the AJ as long as you aren't the judgment debtor. #3. The title company isn't going to give you problems about an AJ that's against someone else. #4. I recommend that you get title insurance when you purchase property. #5. The holder of a power of attorney doesn't own the property. That's why he needs to hold a power of attorney in order to transact any business directly affecting the property. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : HERE IS THE SITUATION: : : Husband grant deeds the property to his wife in October 2001. In January 2002, he receives power of attorney from his wife. In September 2002, husband has an abstract judgment recorded against him in the same county in which the Property is located. : : QUESTIONS: : : 1. Does this judgment put a cloud on title? : : 2. If I buy this property now, subject to existing liens, what problems will I have selling it on the retail market due to this AJ? : : 3. Would the title company I use to resell this property easily see that this AJ is or is not a problem? : : 4. Would you or would you not recommend getting title insurance when I purchase this property? : : 5. How does the fact that he has power of atty affect the state of title? : : Thanks in advance! : : David : ========================== : David, : ANSWERS: : #1. A recorded judgment will cloud the title of any property in the county that's in the name of the judgment debtor. In this instance the husband transferred his interest into his wife's name about a year before the abstract of judgment (AJ) was recorded. So at the time the AJ was recorded the property wasn't in the judgment debtor's name (so it wouldn't attach to that property). : #2. You shouldn't have any trouble with the AJ as long as you aren't the judgment debtor. : #3. The title company isn't going to give you problems about an AJ that's against someone else. : #4. I recommend that you get title insurance when you purchase property. : #5. The holder of a power of attorney doesn't own the property. That's why he needs to hold a power of attorney in order to transact any business directly affecting the property. : : Hope this helps. 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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