Limitations Of The Texas Judgment Lien

Limitations Of The Texas Judgment Lien

Accident Attorney Dallas - Limitations Of The Texas Judgment Lien Good morning. Today, I found out about Accident Attorney Dallas - Limitations Of The Texas Judgment Lien. Which could be very helpful to me so you.

The Texas judgment lien is a great tool in the judgment collection process. Its power lies in its capability to attach your judgment debt to the debtor's real property. But, there are limitations to that power. What I said. It is not in conclusion that the true about Accident Attorney Dallas. You check this out article for information on that want to know is Accident Attorney Dallas. Accident Attorney Dallas It Only Attaches to Some Real Estate A Texas judgment lien only attaches to real estate your debtor owns. It has no consequent on the debtor's personal property. Now suppose your debtor does own a home in Texas. Your would, of course, assume that your lien attaches to that home. But, it doesn't. Texas exempts your debtor's personal residence from the power of a judgment lien. It's called a "homestead exemption." Even though your lien doesn't attach to the debtor's homestead, it does create a cloud on the debtor's title to his home. In other words, you can make it difficult for the debtor to sell his home because your lien creates a request of ownership. Because of this "cloud" you must issue the lien as to the homestead. You don't have to do it until the debtor asks you to do so. But, if the debtor asks, you have to issue it. If you don't, the debtor can sue you for damages. It Attaches to Later Acquired Real Estate Your judgment lien isn't petite to real estate the debtor owns on the date you create the it. It also applies to any non-homestead real property he acquires at any time after you get a judgment. So, if your judgment debtor buys a rent house after you create get a judgment, your lien does attach to that rent house. It Attaches to Inherited Property When a man dies in Texas, his property immediately becomes the property of his heirs. But, the property is first field to payment of the debts of the deceased. This is true either the man dies with or without a will. If you have a judgment against one of the heirs, it immediately attaches to the inherited property. An executor of the deceased person's estate can, however, sell the property free of your lien. But, he can only do so to pay debts of the deceased. The Texas Judgment Lien is a great collection tool. But, it does have limitation. Being aware of both its power and its limitations will help you make the best use of this tool in your collection efforts. I hope you will get new knowledge about Accident Attorney Dallas. Where you possibly can offer easy use in your daily life. And above all, your reaction is passed about Accident Attorney Dallas. Read more.. Limitations Of The Texas Judgment Lien.