How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask WALLSTREETESQ Your Own Question
WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17223
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
16356563
Type Your Bankruptcy Law Question Here...
WALLSTREETESQ is online now
A new question is answered every 9 seconds

I won a judgment against a person who owes me money. He doesnt

This answer was rated:

I won a judgment against a person who owes me money. He doesn't have any property but his wife owns a home. Can I attach a lien on the wife home?

WALLSTREETESQ :

CA, is a community property state, meaning debts acquired by one spouse can be attached to the other,

WALLSTREETESQ :

so even if you obtained a judgment against one spouse you can attach the assts of the other spouse,

WALLSTREETESQ :

assets,

WALLSTREETESQ :

You need to check if the property has been homesteaded, however, you should be able to lien the property of the spouse,

WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

okay, Thanks

http://www.nolo.com/legal-encyclopedia/free-books/small-business-book/chapter4-3.html

You can look at the link above for more information on Community debts in CA, very few State allow this.
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

I landed money to him about 3months ago. He also had another property but transferred the ownership to his son about 13 months ago. I landed money to him about 3months ago and just got the judgment. Can I put a lien on property that got transferred to his son? because I think he intentionally transferred to his son to protect his asset.

You would need to sue him for fraud, it is against the law to transfer property to another to avoid collections.
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

would it be easy to prove it's fraud because it's been over 13 months that he transferred the title to his son. I landed money to him only 3months ago? seams like it would be hard to prove it's fraud because it's been done so long ago.

 

 

Yes, if the transfer happened prior to the loan it makes it harder, however, if their was no consideration, you can argue that he made the transfer knowing he will default on the loan that was going to be taken in the future.

Not an easy case.
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

I thought if you purchase a home that has judgment lien attached at auction, the lien follows with the home. But I read and article said"When you purchase property at a foreclosure sale, all junior liens other than property taxes are wiped out." is this true?

junior liens would be wiped out from a sale of the higher priority lienholder,

However, if the property is worth 100,000 and the first mortgage was $50,000 they would be paid first, the other lien holders would then be paid the rest, by priority
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

If my home is worth 1Mill and the first mortgage was 800,000 and the judgment lien is 300,000, will I get 100,000 homestead examption before paying to judgment lien? or will the judgment lien holder get paid the equity of 200,000 and no money for homestead examption?

 

 


In your fact pattern, the secured lender would receive the $800,000, you would keep the exemption, the creditor would get nothing. CA exemption laws are generous and unusual, look into the below article for a more in depth review.

The below is from http://www.sedgwicklaw.com/understanding-californias-homestead-law-01-10-2010/

Under the automatic homestead exemption, a homestead cannot be sold to satisfy a money judgment that is less than the exempt amount plus amounts necessary to satisfy all liens and encumbrances on the property. CCP §704.800. If the homeowner has enough equity to satisfy all encumbrances, he or she keeps the statutorily exempt amount while foreclosing creditors keep the remainder, up to the amount of their judgment lien. To qualify for the automatic exemption, the homeowner must have continuously resided in the house from the time that the creditor's judgment lien attached until the time that a court determines that the exemption applies. Homeowners automatically receive the benefits of this homestead exemption even if they do not record a homestead declaration.
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

You said the creditor would get nothing but if the home get sold at 1mill, there will be 200,000 equity. I will get 100,000 as homestead examption first. And then, the jugement lien holder get paid the rest of the 100,000 no?

right, my mistake.
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

Do I have to do any thing to get the homestead examption?

In CA a primary residence is automatically given a homestead exemption, however you can also file for it as well.


The form is free and below

http://www.caldocs.com/resources/publications/real-estate/Homestead-Declaration.pdf
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

Let's say a home worth $500,000 but there is a judgment lien $300,000 attached to the home. If I buy the the home at auction for $600,000, the judgment lien holder get paid 100,000 and the lien will be removed? not following with the home?

I do not follow, the home has to have an exemption,

if you bought a house for $600,000 at an auction, the secured lender would be paid first, and extra would pay junior liens, that would clear title, If you bought the house for $600,000 and the mortgage was 900,000 they would get the 600,000 the lien holder gets nothing and they are wiped out, meaning the lien is discharged from the property
WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

What if I bought the home at auction for 600,000 and the mortgage is 400,000, would the judgment lien holder get 200,000 and the lien will be removed. The lien won't follow with the home anymore?