Legal Question in Credit and Debt Law in California
Hello,
I have a question about collecting on a judgment lien. A judgment lien was entered on the Defendants property after I won my suit against him. I need the money now. Is there any way that I can force the sale of his property to collect of my judgment. My judgment is pretty substantial. Please let me know if this is possible.
2 Answers from Attorneys
Debtors have considerable exemptions from enforcement of judgment. And debtors are afforded considerable protections under Federal Bankruptcy Law. They cannot be deprived so readily of house and home. Due to the severe economic downturn, the average equity in homes is "negative," which means the judgment creditor would gain nothing from the sale of such real property. Further, judgment liens are subject to avoidance (removal) in Bankruptcy Court, by way of a debtor's motion.
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While Mr. Abrams correctly identifies all the potential reasons it might not yield anything, he failed to answer your question. The answer is yes, you can get an order that the property be sold, if there is equity in it net of all prior liens and net of the automatic homestead exemption. If you would get something, and if the debtor does not declare bankruptcy, you can get a writ of execution on the house and it will be sold by the sherrif, pretty much the same way as a trustee forecloses on a deed of trust.