What happens if my judgment is 10 years old?

What happens if my judgment is 10 years old?

You will want to check your state’s statutes. Since your judgment is 10 years old, you want to make sure it is still valid according to your state’s statutes. Assuming it is valid, you will need a Satisfaction of judgment recorded when you pay it so it doesn’t attach to the new home as a lien.

Can a judgment be released on a title search?

Judgments against you will always appear on a title search; regardless of the statute of limitations. Of course, you can get the judgment released by satisfying or settling with the judgment creditor.

When do you need a satisfaction of judgment?

Assuming it is valid, you will need a Satisfaction of judgment recorded when you pay it so it doesn’t attach to the new home as a lien. That’s why lenders have title co’s and attorney’s check your records before giving you a mortgage. They don’t want a judgment to jump in front of their first mortgage position.

You will want to check your state’s statutes. Since your judgment is 10 years old, you want to make sure it is still valid according to your state’s statutes. Assuming it is valid, you will need a Satisfaction of judgment recorded when you pay it so it doesn’t attach to the new home as a lien.

Can a judgment be vacated after 2 years?

The horror story I hear all too often is that the judgment is more than 2 years old, the consumer never knew about it, and now nothing can be done about it. The 2-year limit is a law that needs to be changed. If your motion is successful, the judgment is vacated and you then get to contest the case.

What happens when a judgment is issued against you?

In some states, creditors can force the sale of your home. At the very least, the judgment appears in your county’s property records, so when you sell or refinance your property, the title insurer will require that the judgment be paid in full from the proceeds.

When does a judgment lien against a house expire?

The judgment lien will be enforceable against your house for seven years after the judgment was rendered. The judgment lien can be renewed by the creditor for an additional seven-year period.