Legal Question in Real Estate Law in Wisconsin

I am buying a new house and just found out from our title company that there are 6 judgements listed against the seller's title. We are supposed to close on this property in one month, and some of the judgements are as recent as 2 years. This is our dreamhouse, but I'm concerned and wondering if we should be walking away now?

Asked on 7/01/14, 11:32 am

1 Answer from Attorneys

JAY Nixon nixon law offices

The judgments are normally paid from the seller's sale proceeds, and you should not close unless they are all handled correctly and your attorney verifies with the title company that they are being paid. Otherwise, you would need to pay them before you can obtain a mortgage on the property, refinance the property, or sell it. In WI, judgments docketed against real estate create lien rights against the property or the judgment creditor who was attempting to collect money from the owner. These liens can even survive a bankruptcy, if not resolved by the bankruptcy lawyer of the owner, which is relatively easy to do after the bankruptcy concludes.

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Answered on 7/08/14, 5:05 am

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