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Judgment Search on Sellers

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Anonymous
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Judgment Search on Sellers

I am on the deed to a house in PA along with 3 siblings. I have several unpaid judgments in NY. I currently live in FL. The judgments have not been domesticated in any other state. When we decide to sell this house, are my NY judgments going to cause problems? Does the judgment search extend beyond the state the property is located in? I dont know anything about how this works, any input would be appreciated.
Message 1 of 4
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StartingOver10
Moderator Emerita

Re: Judgment Search on Sellers

This is a good question for a real estate attorney in the state where the property is located. I don't know if non-domesticated judgments are required to be paid or not. Would paying these judgments out of the sale proceeds eat into your siblings proceeds?

Message 2 of 4
Anonymous
Not applicable

Re: Judgment Search on Sellers

I don't think so. Close maybe. I was assuming tho that they'd have to be paid before the sale could even go thru.
Message 3 of 4
StartingOver10
Moderator Emerita

Re: Judgment Search on Sellers


@Anonymous wrote:
I don't think so. Close maybe. I was assuming tho that they'd have to be paid before the sale could even go thru.

No. It can be paid at closing out of your portion of the proceeds.

What you want to know is if you have enough to pay them off. The judgments continue to accrue interest at the statutory rate the whole time from when they are issued until they are paid off. 

 

If you do pay them off before closing - you can usually get a better payoff if they don't know you have a property under contract ready to close. If they find out you have one, they pretty much stick to the full monty because they have you over a barrel and they know it. 

Message 4 of 4
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