Posted on: 16th Aug, 2009 07:25 pm
IF THE DEED ON A HOME IN THE STATE OF FLORIDA HAS THREE NAMES ON IT AND A COLLECTION AGENCY HAS THE ABILITY TO PUT A LIEN ON THE PROPERTY WILL THAT ONLY AFFECT THE PERSON NAME ON THE DEED WHO THEY ARE TRYING TO COLLECT THE MONEY FROM? OR WILL IT AFFECT ALL THREE NAMES ON THE DEED?
Hi katrink!
Welcome to forums!
The lien will placed on the property as a whole but it would only affect that person's credit against whom the judgment has been issued by the court.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The lien will placed on the property as a whole but it would only affect that person's credit against whom the judgment has been issued by the court.
Feel free to ask if you've further queries.
Sussane
IT IS MY UNDERSTANDING IN THE STATE OF FLORIDA YOU CANNOT PUT A LIEN ON PROPERTY THAT IS HOMESTEADED? QUOTE "THE FLORIDA CONSTITUTION EXEMPTS HOMESTEAD PROPERTY FROM LEVY AND EXECUTION BY JUDGMENT CREDITORS... SO MYSELF AND OTHER NAMES ON THE DEED WILL ALL BE PROTECTED??? CAN THEY STILL PUT A JUDGMENT ON ME ALONE IF SOMEDAY DOWN THE ROAD I BUY ANOTHER PROPERTY (CONDO)? WILL I HAVE TO PAY THE JUDGMENT BEFORE PURCHASING? DOES JUDGEMENTS AGAINST YOU GO ON YOUR CREDIT REPORT?
Hi KATRINK,
If there's a judgment against you, then it will get reflected in your credit report. As there is a homestead on the property, it will be protected against any kind of liens. The lender can charge off the loan now to a collection agency if you cannot pay it off. If he charges off the loan, then he won't place liens on your other properties.
If there's a judgment against you, then it will get reflected in your credit report. As there is a homestead on the property, it will be protected against any kind of liens. The lender can charge off the loan now to a collection agency if you cannot pay it off. If he charges off the loan, then he won't place liens on your other properties.