Legal Question in Family Law in New York
Statute of limitations on a judgement
I am looking into buying a home. There is a judgement on my credit report for $6000 from a divorce.The judgement is almost 7 years old. I have never paid it. Is there a statute of limitation on that judgement. If so, can it be renued. Also how would this affect me buying a home.
1 Answer from Attorneys
Re: Statute of limitations on a judgement
The judgment constitutes a lien against real property located in the county where the judgment is docketed for ten years. As a practical matter, you will not be able to convey clean title, get financing or title insurance with the open judgment. After ten years, the lien can be renewed. If the judgment is valid, you should probably just pay it off, as the statutory interest may exceed prevailing market rates. Feel free to call me to discuss this further.
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