Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

judgment lien

Read a random definition: nominal value

A quick definition of judgment lien:

A judgment lien is a type of lien that happens when someone owes money and doesn't pay it. A court can order that the person's property be used to pay the debt. This means that if the person sells their property, the money from the sale will go towards paying off the debt.

A more thorough explanation:

Definition: A judgment lien is a legal claim placed on a property by a court when the property owner fails to pay a debt. This lien gives the creditor the right to force the sale of the property to satisfy the debt owed.

Example: Let's say John borrowed $10,000 from Jane to start a business. John failed to repay the loan, and Jane took him to court. The court ruled in Jane's favor and ordered a judgment against John for the $10,000 he owed her. To secure the debt, the court placed a judgment lien on John's property, which means that if John sells the property, Jane will be paid the amount owed from the proceeds of the sale.

Another Example: Sarah was sued by her former landlord for unpaid rent. The court ruled in favor of the landlord and ordered a judgment against Sarah for the unpaid rent. To secure the debt, the court placed a judgment lien on Sarah's car, which means that if Sarah sells the car, the landlord will be paid the amount owed from the proceeds of the sale.

These examples illustrate how a judgment lien works. When a court orders a judgment lien, it gives the creditor the right to collect the debt owed by forcing the sale of the property. This can be a powerful tool for creditors to collect unpaid debts, but it can also be a serious consequence for property owners who fail to pay their debts.

judgment debtor | judgment notwithstanding the verdict

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
RoaldDahl
16:05
dodged the mich r wave what does this mean
HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
LSD+ is ad-free, with DMs, discounts, case briefs & more.