Legal Question in Real Estate Law in Virginia

�Enforcement of Judgment

Judgment Description: "$250 with interest at 8% thereon until paid from March 2, 1981" (nothing more).

If I calculated 8% per year (approx. $2,900) does the defendant have to accept the amount I calculated in order to have the lein released? One lawyer is telling me if I don't accept their calculated amount (approx. $900) then I can be sued for not releasing the lein? And how can the "description of thereon" be defined?

Wouldn't the ball be in my court?


Asked on 2/17/14, 8:16 am

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

First, if the judgment is from 1981, nothing is owed on it unless it was renewed, as judgments in Va. expire after 20 years (10 years for General District Court judgments - including small claims - entered prior to 7/1/1995, or for those not docketed in Circuit Court within 10 years).

As for the interest, you seem to be compounding it. That is incorrect. There is no interest on interest on a Va. judgment. So the correct amount of interest on $250 from 3/2/81 is about $660 (exactly $660 as of 3/2/14), for a total due of $910.

If they pay it off and you do not release, yes you can be sued.

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Answered on 2/17/14, 8:43 am


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