Legal Question in Real Estate Law in Massachusetts

real estate judgement

i signed a contract to sell my business. the agreement was to make monthly payments.

the purchaser initially loss the business.

he still owes me a lot of money.

the purchaser is selling a piece of land. he has a tax lien on that land.

the tax lein is more than the selling price.

can i recover my money at the closing if i filed a civil suit or what can i do


Asked on 4/26/07, 7:21 pm

1 Answer from Attorneys

Craig J. Tiedemann Kajko, Weisman & Colasanti, LLP

Re: real estate judgement

No. The tax lien has priority over your claim, as would any other already-existing encumbrance to the debtor's property title. You have only a claim right now, not even a court judgment in your favor entitling you to collect from the debtor.

If the debtor gave you a promsisory note, you can sue on the note. Such suits move quickly through the courts, since usually there are no valid defenses for non-payment; just lack of funds. After receiving a court judgment, then you need to turn it into money. If the debtor cannot pay his tax liens, and the property is being sold to satisfy the tax lien, s/he likely has no other significant assets you could use to satisfy your judgment, assuming you could get one.

If you want to sue on the note and get a judgment, I can probably help you get that quickly, but would require a fee payable by you for the litigation, although I would do everything I could to get you paid if a judgment enters, the prospects don't sound real good. But who knows, maybe the debtor would pay to settle the suit.

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Answered on 4/26/07, 8:29 pm


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