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Property Sales And Judgments

There are times a judgment debtor won't repay your judgment, yet the debtor owns real estate. Why not just pay a Sheriff sell their property to satisfy your judgment? That is one of those things that sounds cheaper, easier, and more reasonable as a theory, than it turns out to be in the real world.

When all your stars align, one may hire the Sheriff, and either your debtor will settle with you, or the debtor's property may be sold, and that might get your judgment paid. In our real world, usually that pesky tiny thing known as reality; gets in the way of having the Sheriff sell a debtor's property, particularly the home they live in.

This article is my opinion and is not, legal advice. I am a judgment referral expert, and not an attorney. If you ever want a strategy to use or legal advice, please retain an attorney. The starting step to sell a debtor's property is to record a property lien on their real estate, and then buy a writ of execution for a sale of that real estate. Here are some things which may stand in your way of selling a judgment debtor's residence or another real property at the Sheriff's auction:

1) The laws of your state. Many states have exemption laws and special requirements.

2) The debtor's equity situation. When the debtor's real estate has no equity, it makes no economic sense to attempt to sell it, as any previous first purchase money property lenders get repaid first.

3) It takes a lot of forms and costs a bunch of money to sell a judgment debtor's real property. Due to of Sheriff sale complexities; it is a good idea to hire a lawyer to sell a judgment debtor's property.

4) Your judgment debtor can apply for bankruptcy anytime, even if the debtor has no chance of succeeding, just to delay everything and increase more expenses for the judgment owner.

When the debtor owns more than a single piece of real estate, especially commercial real estate, most of their exemption protections disappear. When you try to sell some real estate that is not the judgment debtor's primary residence, there is a better chance for you to get paid.

Of course, occasionally simply starting a Sheriff sale of your debtor's real property causes your judgment to be satisfied. One more reason to hire an attorney to sell a debtor's property, is to show the debtor you're serious, and are determined to follow through and sell the debtor's property. If the judgment debtor settles with you, or for most other reasons, the judgment owner may cancel a Sheriff sale at any time.

If you're going to try selling a debtor's property, the local law library has books with example procedures and forms. Ask the Sheriff's real property Sheriff sale department. You'll most likely need to purchase a litigation title report which shows all the lien holders.

Even when it doesn't make economic sense to sell your debtor's real estate now, who knows what our future holds. Maybe those in power will legalize hemp some day (also called weed) that could really help the economy, I sure don't see many other good ideas around, that would be as much help for the economy. Real estate prices going back up, would be good news for judgment owners.

Even if you can't sell your judgment debtor's real estate now, record and maintain those liens, because you do not know when recording your property lien might one day work.

About Author Mark Shapiro :

Get your judgment recovered at the best real price with the best service: <a href="" target="_blank"></a> - Judgment Enforcement. The free, easiest, fastest and best way to start recovering enforceable judgments. (Mark D. Shapiro 408-840-4610) JudgmentBuy offers the Truth.

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Article Added on Saturday, June 8, 2013
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