How long the default judgement stays effective? There was a default judgement of 19 million & owners’ name was among others in the judgement in 1991 Then in 2006 he bought a house , which is going to a trustee sale? He was the only one on the deed of trust & on the deed. This house was a rental property. If the judgement was effective it should have attached to the house back in 2006 when he bought the house & he shouldn’t have to get the mortgage then?
Laws vary by state. In Ca. a judgment is good for 10 years - and you can go back to Court to renew it once. That judgment expired in 2001. IF the loan in question was a purchase money Deed of Trust, it would have priority over any pre-existing liens against the buyer/borrower.
So purchase money Deed of Trust have priority over any pre-existing liens against the buyer/borrower? Fri Jan 20th 2012 at 9:34am
Yes. It would have priority over any “general” liens - Liens that aren’t specifically tied to that particular property. Eg. Judgment liens, state and fed. income tax liens, a lien for back alimony or child support, county hospital lien etc. miket Fri Jan 20th 2012 at 2:17pm