I read it in one of your post. I’ve learned so much from this web site I just thank God
for all this info. Keep up the good work
Thanks so much for your kind words!!
A stipulated judgment or agreed judgment is a judgment which both sides agree to have entered. If the agreement is not followed, the plaintiff can file an affidavit of default wherein the judgment can be entered without notice to the defendant(s). This default judgment is binding and failure to comply with it means that an enforcement action could be taken. Enforcement actions vary, but can include wage garnishment and/or property lien(s).
Do I need to get it notarized?
In order to qualify as a stipulated judgement it has to be endorsed by the court. Otherwise you just have a settlement agreement and not a stipulated judgement.
What do you mean it has to be endorsed by the court? Do you mean right after your “tenants” sign or when they do not comply. In order for a stipulated judgement to be used, does a UD have to be filed first or simultaneously? Can the UD be filed later, only if you need it?
Hi Kenny,
A stipulated judgement would typically be a court ordered judgement signed by the judge based upon the party’s agreement. The party’s decide on (or stipulate to) the result they want and the judge signs off on it in order to make it an official order of the court, just like if the court had rendered the decision itself. In order to accomplish that you would need to have a pending UD or other action filed with the court. You can always enter into a written agreement to settle your differences with the tenant before filing a UD; however, if either party breaches the agreement, it will be necessary at that point to file an action with the court to enforce the agreement.
I was researching this. Thank you Michelle and Mark,your answers were very helpful.
Is a stipulated judgement the same thing as a stipulated foreclosure?
Hi Harold, I have not heard the term “stipulated foreclosure”. You could have a Deed in Lieu of Foreclosure where a homeowner signs over title to the lender instead of going through the foreclosure process. BTW a lender is not obligated to accept a Deed in Lieu of Foreclosure.
How does a stipulated judgment show up on your credit report?