Can bank attach a judgment lien to real estate that I own, if I am personally liable for business debt in another state?
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Can bank attach a judgment lien to real estate that I own, if I am personally liable for business debt in another state?
I signed a personal guarantee presented by the bank several years after a business line of credit was opened.
Asked on January 10, 2012 under Bankruptcy Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If there is a judgment against you in one state and you reside in another, it is entirely possible for the judgment creditor to record an abstract of judgment on real estate that you own in the state where the judgment was entered and in any other state in this country under the "sister-state" judgment laws that each state in this country pretty much recognizes.
In your situation, you might consider trying to enter into some lump some payment to eliminate the judgment at a discount or make some monthly installment payments under a written agreement with the judgment creditor if you are concerned about your real estate being levied upon.
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