A judgment is an order awarded by a court to pay money owed to a creditor. When a judgment is awarded, the creditor can use that judgment to place a lien on the seller’s property. At that point, a seller must address the judgment, generally by repaying the debt before he or she can sell, trade or transfer the property.

How does a judgment affect you?

Important: Judgments give debt collectors much stronger tools to collect the debt from you. Those tools can include wage or bank account garnishments, as well as putting on a lien on your home. Tip: Contact a lawyer if you are sued, or if someone has obtained a judgment against you.

How do judgements affect title-title resources?

All Rights Reserved One function of a title search is to determine whether there are any unsatis˜ed judgments against the seller or previous owners. The title search encompasses any recorded judgments against parties that could a˚ect title. The

Can a title be sold with a judgment lien?

Satisfying the judgment is the best assurance that the title is lien free. The only exception to this rule is if the seller is given an opportunity by the title insurance company to execute a “Not-Me-Affidavit” swearing that the name of the person on the judgment lien is not them.

What happens if a judgment is against a buyer?

If the lien or judgment is against a buyer raise it as an exception on Schedule B. If it is a cash deal, a buyer has the option of taking subject to the lien. If the buyer has a lender, the lien may or may not have to be paid off depending on whether or not the loan is a purchase money mortgage.

What happens when someone claims to have title to your property?

You may also find that someone claims to have the right to drive over or through some portion of your property to access their property, a roadway, or some other point of interest.