Question: Does an abstract of judgment have a 10 year life just like a judgment and do you need to renew an abstract of judgment every time you renew the judgment?
Answer: Filing an application for renewal extends the judgment created by the abstract. However, you must record a certified copy of the application for renewal at the county recorders office in order to perfect the extension. Recording a new abstract may give you a lower priority to liens recorded after your original abstract.
You should also check to see if the debtor's property has changed hands since the time you recorded the original abstract. There are additional procedures you need to follow to extend the lien with respect to the new owner if a transfer has taken place. Failure to follow the proper procedures to notify the new owner could invalidate your judgment lien.
In most cases, it should not take the full 10 years to collect the judgment. If you need assistance in collecting an old judgment, please feel free to contact our office at (619) 448-2129 for a complimentary consultation.
About the Author: Carl H. Starrett II has been a licensed attorney since 1993 and is a member in good standing with the California State Bar and the San Diego County Bar Association. Mr. Starrett practices in the areas of bankruptcy, business litigation, construction, corporate planning and debt collection.
1 comment:
Besides employee wages, is there a way to get someones personal property, home, lotto winnings, retirement, bank accounts etc. to settle a judgement?
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