judgment lien Synonyms
No Synonyms and anytonyms found
judgment lien Meaning
Wordnet
judgment lien (n)
lien on a debtor's property that is granted to a creditor by court judgment; lien may be enforced by having the sheriff seize the property and hold a sheriff's sale
judgment lien Sentence Examples
- A judgment lien is a legal claim placed against a person's property when they fail to pay a debt.
- Creditors often file judgment liens to secure payment of outstanding debts.
- A judgment lien can be filed against real estate, personal property, or both.
- Once a judgment lien is filed, the creditor has the right to sell the debtor's property to satisfy the debt.
- The debtor may be able to remove a judgment lien by paying off the debt or filing for bankruptcy.
- Creditors must file a notice of judgment lien with the appropriate government office.
- Judgment liens can negatively impact a person's credit score and make it difficult to obtain a mortgage or other types of credit.
- Some states have laws that limit the amount of time a judgment lien can remain in effect.
- Debtors should seek legal advice if they are facing a judgment lien.
- Judgment liens can be a powerful tool for creditors to collect on outstanding debts.
FAQs About the word judgment lien
lien on a debtor's property that is granted to a creditor by court judgment; lien may be enforced by having the sheriff seize the property and hold a sheriff's
No synonyms found.
No antonyms found.
A judgment lien is a legal claim placed against a person's property when they fail to pay a debt.
Creditors often file judgment liens to secure payment of outstanding debts.
A judgment lien can be filed against real estate, personal property, or both.
Once a judgment lien is filed, the creditor has the right to sell the debtor's property to satisfy the debt.
