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Can My Investment properties be taken for payment of medical…

Customer Question
Can My Investment properties...

Can My Investment properties be taken for payment of medical bills in California?

Accountant's Assistant: Has anything been filed or reported?

No

Submitted: 2 months ago.Category: Tax
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12/15/2017
Tax Professional: Tax.appeal.168, Tax Accountant replied 2 months ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Tax Professional: Tax.appeal.168, Tax Accountant replied 2 months ago

In brief, if the the proper procedures are followed, a medical lien can be placed on real estate. SEE BELOW:

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What kind of property is subject to a judgment lien under California law?

In California, a judgment lien can be attached to the debtor's real estate -- meaning a house, condo, land, or similar kind of property interest -- or to the debtor's personal property -- things like jewelry, art, antiques, and other valuables. (In some states, judgment liens can be attached to personal property only.)

How does a creditor go about getting a judgment lien in California?

To attach a lien to real estate, the creditor can take or mail the Abstract of Judgment to the county recorder's office in any California county where the debtor owns real estate now, or may own it in the future. For personal property, the creditor files a Notice of Judgment Lien with the California Secretary of State, or serves the debtor with a notice of a debtor's examination.

How long does a judgment lien last in California?

A judgment lien in California will remain attached to the debtor's property (even if the property changes hands) for ten years.

Keep in mind: In California, a creditor's ability to collect under a judgment lien will be affected by a number of factors -- including a fixed amount of value that won't be touchable if the property is the debtor's primary residence (called a homestead exemption), other liens that may be in place, and any foreclosure or bankruptcy proceedings. If things get complicated, you may want to talk with an experienced California bankruptcy and debt attorney to help you sort out any lien issues.

REFERENCE SOURCE:

https://www.nolo.com/legal-encyclopedia/judgment-liens-california-46807.html

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