Legal Question in Credit and Debt Law in Tennessee

I loaned my son $15,000 but did not have him sign a contract. He has not been making his payments as agreed upon. Can I place a lien on his business until the loan is repaid? His business is located in Tennessee but I reside in Georgia.


Asked on 12/03/10, 8:27 am

1 Answer from Attorneys
Howard R. Peppel Peppel, Gomes & MacIntosh, P.C.

You would have to sue your son first to obtain a judgment and then file a judgment lien against his home, if he has one. As for filing a lien against his business, that cannot be done in the absence of a written agreement giving you a security interest of some sort in his business.

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Answered on 12/10/10, 8:49 am


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