If I put a lien on a business approximately 10 years ago, does it expire?

Get Legal Help Today

 Secured with SHA-256 Encryption

If I put a lien on a business approximately 10 years ago, does it expire?

Asked on January 17, 2013 under Bankruptcy Law, Indiana

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Did you mean that you obtained a judgement against a party?  Under Indiana law, a final judgment for the recovery of money or costs constitutes a lien on the judgment debtor’s real property located in the county where the judgment has been entered and indexed in the judgment docket.  The lien attaches automatically when the judgment is entered and indexed.The automatic judgment lien against real property remains valid for a period of only ten years, in most cases, thus the judgment creditor must foreclose the lien during the ten-year period in order to execute the judgment against real property. 

After the judgment lien expires, the creditor is limited to executing the judgment against other property of the debtor.  The Indiana Code provides for the automatic lien to attach only to real property and not to personal property of the judgment debtor.  Please speak with an attorney asap as to your case. It may be time to act. Good luck.


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 AttorneyPages.com 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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption