Legal Question in Credit and Debt Law in Massachusetts
credit card levy on real estate
I just found out that our home has a 39,000 levy from a credit card that my husband had years ago. my name was not on the account. we own our home jointly. as a co-owner of this real estate shouldn't I have been notified of this levy prior to or at least when it was going to occur ? also my husband owns another piece of real estate that is in his name only, why didn't they levy that since it was HIS debt? what are our options, we do have homestead, but this is accrueing at 12%! thanks for any help.
2 Answers from Attorneys
Re: credit card levy on real estate
It seems a creditor obtained a judgment against your husband and effectuated a post judgment lien on his interest in property which you jointly own, pursuant to Massachusetts General Statutes Chapter 223, Section 62 et seq. and Massachusetts Rules of Civil Procedure 4.1. Pursuant to Massachusetts General Laws Chapter 188, Section 1, a debtor has a homestead exemption of $500,000 in his/her homestead, subject to the specified exceptions listed under the statute, and assuming the exemption is properly filed. The law in this area is fairly complex. Please feel free to contact my office for a free initial consult based on the facts of your specific situation.
Re: credit card levy on real estate
The good news is that the recorded judgment (lien) is only against his 1/2 interest in the house, however, no transfer of the real estate will be valid until that debt is paid or extinguished, and no refinance is available without a payoff. You were not required to be notified of the judgment being recorded against your husband.
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