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  1. #1

    Default When Someone Attaches a Lien to One's Real Estate Does It Become Secured California

    In California, if someone wins a judgment from rent owed from a commercial lease can they attach that to one's real estate? If yes, is it secured or can one still file bankruptcy against it? To put it simple if one owns a home and it is within the exemption amount for chapter 7 bankruptcy can I fill chapter 7 after the lien is placed on the home and have it taken away? Or do I need to file before it gets attached? This question is in regard to a judgment, but perhaps it is better in the bankruptcy section.

  2. #2
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    Default Re: When Someone Attaches a Lien to One's Real Estate Does It Become Secured Californ

    If a creditor secures a judgment against you in your capacity as an individual, it doesn't matter whether you incurred that debt as an individual or through your business - it's against you as an individual. A judgment debt for rent should be dischargeable in bankruptcy. It's possible for a judgment creditor to secure a lien, and it's sensible to declare bankruptcy before a judgment debt is secured.

  3. #3

    Default Re: When Someone Attaches a Lien to One's Real Estate Does It Become Secured Californ

    Yeah, you are right. I don't want it to come to that point. I have a business partner with much more assets than me and much more to lose if they had to file bk or if it gtt it secured to their house. I don't think they would be given the option of ch7. From what I have read, the LL needs to have it docketed, then filed within my county. Another article said I need to be subpoenaed to list my assets, but I imagine the LL could just hire someone to find out the assets to go after. Another article said the LL should, once they receive the judgment, make a request for payment or work out a deal, but it is really up to them if incurring additional legal costs is worth it. I would file bk, so spending money to come after me is a waste, but they probably don't have to pay any extra since they are coming after me and my business partner. Thank you for the information Mr.Knowitall.

    p.s. I meant since it is business related I've read those seem to enable one to get ch7 more easily. I think the article said if your debt is greater than 50% business related regardless of income, one is usually granted ch7. My debt would be 100% business related so I should be ok. I'm thinking if it was a judgment for credit card debt and I had a good paying job that I might not be granted ch7. But correct me if that is not the case. Articles are written by whose knows who out there.

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