Legal Question in Credit and Debt Law in Georgia

Lien Placement for a debt

Can I place a lien be on a home of an individual that owes me money ?

We had a (verbal) agreement on an IPO investment. He had the ''right to purchase stock as a family member'', but he didn't have the cash at the time - and I did. Our agreement was to equally split the profit or loss. I wrote a check (to him) for a $30,000 investment.

Subsequently, the company went into Ch 7. There's nothing to recover from the stock.

All I'm looking for is the recovery of my 50% ($15,000).

The individual has never amased much savings and is now selling his home (with sufficient equity to repay me) as a part of an amicable separation with his spouse. The sale is one of those through a ''we buy your house fast'' programs, and will be closing by the end of the month.

Can I place a lien on the house:

1) without a court judgement,

2) quickly, and

3) If so, how do I do it.

Your insight is greatly appreciated.


Asked on 2/09/07, 8:49 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Lien Placement for a debt

No, you cannot, but even if you could, instructing you on how to do so is beyond the scope of this forum. Discuss this with a lawyer who can review the documents - and see whether your loss is simply a losing investment you cannot recover.

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Answered on 2/09/07, 8:55 am


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