Legal Question in Real Estate Law in California
Existing Judgement
We have recently learned of an pre-existing judgement, but nothing shows up on our Credit Rating and have been approved for a home loan. Should we go ahead with the purchase of the home and if so what can happen to us in the future regarding the judgement?
1 Answer from Attorneys
Re: Existing Judgement
I am assuming that by learning of the pre-existing judgment, you are saying that you have discovered that someone has recorded an abstract of judgment against you. An abstract of judgment will automatically attach to any real property you purchase in the county in which it is recorded.
In addition to purchasing property an having a lien on your property, which will be in priority to any deed of trust you give a lender to secure a loan, the creditor can force the sale of your property to satisfy the judgment. You would only have a homestead protection, and then only up to determined by Code of Civil Procedure 704.730.
Having a judgment against you when you buy property is a serious matter. You should speak to a qualified attorney immediately.
Very truly yours.
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