How Do You Handle An Abstract Of Judgment?
When you win a lawsuit, an abstract of judgment is a legal document that sums up how much money the losing side owes you. If you have to secure a lien against the debtor’s house or land to claim your money, filing an abstract with the courts is the first step toward securing the payment you’re due. Ask the defendant for the money. If they agree to pay up voluntarily, that eliminates the need to file an abstract. Go back to the court that ruled in your favor to obtain the abstract of judgment. The abstract will list information about you, the debtor and the amount that you’re owed, which usually includes court costs and interest rates. Locate the debtor’s “real property”–land and homes that they owe. In some states, the court will require the debtor to provide that information. File the abstract of judgment with the county recorder’s office in a county in which the debtor owns “real property”–that is, land or a home. This establishes your lien, or claim on a share of the proceeds when