what is abstract of judgment in a title of a home?


#1

what is abstract of judgment in a title of a home?


#2

When you see an “abstract of judgment” recorded, that indicates that a court has awarded a judgment and the homeowner was named on that judgment. It could be that they owe $$ or possibly have been awarded a monetary judgment. Read the abstract of judgment carefully and you’ll see who the prevailing party is + amount. Most common is a credit card default w a court award in favor of the credit card company. If the judgment is owed by the homeowner, this would be like any other lien against the property.


#3

Judgments in California expire after 10 years if they are not renewed. Check for that. Additionally, the debtor/borrower could have discharged it in bankruptcy, so check PACER as well. Additionally, you can phone the creditor and see if it has been satisfied. Often when I do collection work, I record in multiple counties. That means the creditor could have satisfied the judgment with another sale but neglected to record a satisfaction of judgment.