Legal Question in Civil Litigation in Florida
If there were a $26,000 judgement against a property and the owners got a loan on the property, would the judgement have to be paid off?
Asked on 6/15/12, 8:34 am
2 Answers from Attorneys
David Slater
David P. Slater, Esq.
Not necessarily. It would depend upon the type of loan and the requirements of the lender.
Answered on 6/15/12, 8:44 am
John DeLancett
Law Offices of John DeLancett, PL.
Usually, yes, but the amount might be negotiable. Be aware that post judgment interest has probably accrued on the judgment and the amount may now be higher than the face amount of the judgment.
The judgment should be reviewed to see if it has expires, whether it was properly recorded and whether it attached to the property, homestead, tenancy by the entireties, etc.
Finally, the lender might waive it, but that would be rare.
Answered on 6/15/12, 9:14 am
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