Legal Question in Real Estate Law in Florida

I have two judgments totaling about $18,000. Liens have been placed on my house. I need to sell. I owe $160,000 but due to decline in value I can only sell for about $130,000, and the lender is OK with me selling at that price. I bought for $254,000. that means 100% of the proceeds go to the lender. What happens to the judgments?


Asked on 2/22/10, 1:29 pm

3 Answers from Attorneys
David Slater David P. Slater, Esq.

While the liens will be knocked out, you will still owe the $ judgment.

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Answered on 2/27/10, 1:47 pm
Matt E. Bales, Jr., Esq. Bales & Bales, P.A.

The liens will have to be dealt with as part of the purchase and sale transaction. The liens may be able to be bonded so that the sale can close, but the judgments will survive the closing.

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Answered on 2/27/10, 4:53 pm
Lesly Longa Longa Law P.A.

The answers above are correct. Also, make sure that the bank is not holding you to any deficiency, or you will owe them for that as well.

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Answered on 3/03/10, 7:15 am


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