Can bank attach a judgment lien to real estate that I own, if I am personally liable for business debt in another state?

UPDATED: Jan 10, 2012

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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


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 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.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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