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Guest Mary

Judgements

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Guest Mary

I am looking at purchasing a foreclosure from the owner in Florida. The owner has a judgement against her. If I purchase the house, is there a way to get the judgement removed.

Because the judgement is against the owner, can the judgement go with the owner and get removed from the property?

 

Thanks!

Mary

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It appears the judgement is on 3 individuals from a bank, due to a foreclosure they had in Maine. There is a paper called a writ of execution for 3,800 to the defendants. The original judgement amount was 55,000 prior to the sale of the house in Maine. does this mean all of the debt was satisified except the $3,800? This debt was many years prior to the purchase of the house I am trying to buy from the homeowner in default. How can you tell if the judgement attaches to the house?

 

-Mary

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I'm not an expert in this area, but you'll find out if there are any leins against the home when you run a title search. This is when you'll see if it was attached to the house. If it isn't, I would assume you're okay. Maybe someone with more experience in this area can comment.

 

Jeff

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Mary, judgements can be tricky. You should speak with the title company and, better still, a real estate attorney about the specifics of this deal. The potential for the homeowner's problems becoming your's are great if you aren't careful.

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Mary, MC is correct, you should contact the title company that will be insuring it, (the closing title company that you would use), and let them do the homework. A Writ of Execution, is typically where someone has recieved a judgment, and the attorney has filed the Writ through the courts to basically assure or help assure that the judgment will be paid. Sometimes they are attached to a bank account of the defendants I believe. It's kind of like garnishing one's wages if you will. In this case, it would most likely be attached to the home as a lien, and would be paid at close. It shouldn't affect you, but of course you want the title company to make sure.

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Mary, MC is correct, you should contact the title company that will be insuring it, (the closing title company that you would use), and let them do the homework. A Writ of Execution, is typically where someone has recieved a judgment, and the attorney has filed the Writ through the courts to basically assure or help assure that the judgment will be paid. Sometimes they are attached to a bank account of the defendants I believe. It's kind of like garnishing one's wages if you will. In this case, it would most likely be attached to the home as a lien, and would be paid at close. It shouldn't affect you, but of course you want the title company to make sure.

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