Legal Question in Credit and Debt Law in New York

Hello,
My company received a judgement against it over 13 years ago in New York (in federal court I believe). I had no idea about this judgement since it was before I became owner. We mainted a business relationship with the plaintiff during the 13 years. The judgement was never mentioned. However, last week, the attorneys for the plaintiff placed a hold on my business bank account. My question is- does the judgement have to get renewed after 10 years? If it does, would I have received paperwork about the renewal? What happens if the judgement is not renewed within the 10 years? Thank you so much!

Asked on 4/10/12, 8:17 am

Michael Markowitz Michael A. Markowitz, PC

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In New York, a judgment lasts for 20 years. It only creates a lien against real property for 10 years.

Mike.

Answered on 4/10/12, 8:24 am

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