Question about Judgment Lien (Florida)
Hey BP Nation!
I need information regarding Judgment Liens on a property.
I have a property under contract, but a title search revealed that there is a pretty sizable judgment lien. I am not familiar with this situation, however a family member who is a GC looked up the records and understands that the judgment is against the owner and not against the property.
How does the judgment lien affect the transaction?
- 1)Does it only affect the proceeds that would have gone to the owner after fulfilling the current mortgage?
- 2)Or does it the judgment need to be paid in full along with the current mortgage?
I know that the seller didn’t like the person who filed the judgment and is willing to lower the sales price to fulfill the mortgage but would not provide any money to the judgment lien if she isn’t going to get any money anyways due to the judgment.
I am in Florida if that helps provide more info.
Thanks!
Rick