What is a Divorce Lien?
Divorce Liens. In one sense, a divorce lien is nothing new. It’s simply a note payable from the spouse who keeps the major asset (usually the wife who keeps the house) to the spouse who gives it up (usually the husband), secured by a mortgage on the asset.Click to see full answer. Similarly, it is…
Divorce Liens. In one sense, a divorce lien is nothing new. It’s simply a note payable from the spouse who keeps the major asset (usually the wife who keeps the house) to the spouse who gives it up (usually the husband), secured by a mortgage on the asset.Click to see full answer. Similarly, it is asked, what is a marital lien?Marital liens are a common solution in divorce when the spouse awarded the marital home cannot refinance the property and divide the equity at the time of the divorce. Instead, a marital lien is placed on the real estate in favor of the vacating spouse for his or her financial interest to be paid at a future time.Secondly, can my ex wife put a lien on my house? If you do not own the property, your ex cannot place a lien on it. It is possible, however, that a court may decide that you “constructively own” your present wife’s house if, for example, you gave her the money to buy it and put it in her Also to know is, can a spouse put a lien on my house? In community property states, you and your spouse are considered to own all marital assets and debts in equal shares. Because it’s a joint asset, your spouse’s creditors can put a lien on the house for his or her debt. Also keep in mind that since you own half your spouse’s debt, it’s typically “your” debt.How do I put a Judgement lien on a property?Usually, a creditor can get a lien on your property by filing papers with the court. The rules vary by state, but, in general, the creditor will file a copy of the judgment in the county in which you own real estate. The court will issue a lien, and record it in the court’s judgment lien docket.
