A judgment lien is a legal claim placed on a debtor’s property by a judgment creditor to secure payment of a judgment. The lien gives the creditor the right to collect proceeds from the sale or refinancing of the property.
Judgment liens are commonly attached to real estate but can also apply to personal property in some cases. They remain in place until the judgment is satisfied or the lien expires.
Judgment liens are a powerful tool for creditors to enforce judgments.
Judgment liens are significant because they provide a mechanism for securing debts and ensuring payment. For creditors, liens offer leverage, as they prevent debtors from selling or refinancing property without resolving the judgment.
For debtors, judgment liens underscore the importance of addressing obligations to avoid complications with property ownership.
Judgment liens are essential for the enforcement of financial judgments.
