Legal Question in Bankruptcy in New Jersey

If I hold the third lein on a property and the property owner has other debts (not leins but e.g. credit card debts and business loans) 1) Do those other creditors have rights to monies before all lein holders are paid? 2) Do those other creditors have the right to go after the money I have been given to satisfy the lein -- after the fact? 3) What if the property owner, after the sale of the house and all leins are satisfied, files for bankruptcy? Can the other creditors look to me to recover the monies owed to them?


Asked on 7/04/10, 7:22 am

1 Answer from Attorneys
Savyon Grant Law Office of Savy Grant

you have a secured interest and you would get paid first. credit card companies are unsecured.

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Answered on 7/06/10, 3:47 pm


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