Legal Question in Business Law in New Jersey

lieans

what does it mean when soneone is going to file a lean against you. I have an out standing loan that is for the business and has a personal garantee. the loan in over due and was taken out in nj with a private person. what does it mean to have a lean against me and the business i just today found out it would be taken out..


Asked on 9/28/99, 1:13 pm

1 Answer from Attorneys
Robert Gleaner Robert A. Gleaner, P.C.

Re: liens

A person first needs to obtain a judgment against you and once obtained, by taking the appropriate procedural steps, it becomes a "lien" on your real property. That means that when the person tries to sell his or her house, it will appear on the records of the County Clerk and the house will not be able to be sold until the judgment amount, or lien, is paid. It also means that creditors may be less likely to extend credit because of an unpaid judgment. This is a brief overview of what a lien is. However, I cannot answer your question specifically without more information. I would suggest that you consult with a lawyer for more specific information. If you want to speak with me, give me a call at 856-546-8010. Good luck!

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Answered on 9/28/99, 3:41 pm


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