In most instances outstanding judgments will be resolved (i) by supplying the title company with an affidavit that the judgment debtor is not the selling party; (ii) by obtaining a Satisfaction of Judgment for previously satisfied debts for which a Satisfaction was never filed with the County Clerk; (iii) if the title company permits, by depositing 2x the face amount of the judgment in escrow pending clearance by Seller. In other instances the judgment will either be settled or paid in full with interest at the time of closing. But there is another way to dispose of judgments affecting title.
If a Home Seller/Client Previously Filed Bankruptcy, Judgment Liens Might Be Extinguishable9/16/2019 Author: Andrew M. Thaler A Seller’s attorney undertakes to do many things in order to successfully close a real estate transaction. After the contract is signed, the Buyer’s attorney will produce a title report for review and analysis by Seller’s attorney. There will invariably be objections to title that need to be cleared before closing. Importantly, there may be unsatisfied judgments to clear.
In most instances outstanding judgments will be resolved (i) by supplying the title company with an affidavit that the judgment debtor is not the selling party; (ii) by obtaining a Satisfaction of Judgment for previously satisfied debts for which a Satisfaction was never filed with the County Clerk; (iii) if the title company permits, by depositing 2x the face amount of the judgment in escrow pending clearance by Seller. In other instances the judgment will either be settled or paid in full with interest at the time of closing. But there is another way to dispose of judgments affecting title.
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