Using a Judgment Lien on Real Property to Collect a Debt

If someone owes you money, you have the right to take them to court and get a judgment against them. If the debtor fails to pay the court ordered judgment, you can use a judgment lien on real property to collect what you are owed. Once the judgment has been handed down by the court, it is usually the responsibility of the creditor to record the lien against the property with the county or state. Once the creditor sells or refinances the property, the debtor gets their money from the sale proceeds. Essentially, once real estate judgments have been recorded, it is akin to telling the world the owner of the property owes you money.

Although you, as the creditor may have gotten a court-ordered judgment against the current property owner, this does not mean you will be paid or at least paid quickly. Although the property is now encumbered with a lien, the law does not demand that the lien is removed before the property can be sold or the title transferred. In situations like this, creditors often turn to Mayflower Capital Company. Mayflower specializes in judgment purchasing.

Once the debt has been paid, the creditor will release the judgment lien. Unfortunately, in many cases, the creditor is unable to collect the money owed. Many situations arise where the creditor granted the judgment lien finds they are at the tail end of a long line of claims. Whether you are paid or not depends on where you are in the line. The first to get a court-ordered judgment is the first to be paid. The farther back you are from the front of the line, the more tenuous your position becomes, and the more attractive buying judgment solutions become. Turning to a company that offers a complete judgment purchase service for cash is the ideal solution.

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