Judgements Filed After Lis Pendens Waived?
After running a Title search on a property in which I am interested,, there are two Judgements that show up AFTER the Lis pendens was filed. I was under the impression that they would NOT be wiped out in a foreclosure, but the Title Rep said not to worry about them.
Lis Pendens filed in 3/2000
Bankruptcy file in 2002
Judgement #1 filed 9/2000
Judgement #2 filed 5/2004
Although the BK was filed in 2002, tJudgement #1 still shows up on the Title Report.
My questions is: Will I need to satisfy the two Judgements if I win the bid at auction?
Thanks,
Tom
What kind of liens are they? Mechanics liens, personal judgements, what? And is the property located in NJ?
That said, if the title company is willing to insure over them I wouldn't worry about them.
Thanks for the reply.
>>What kind of liens are they? Mechanics liens, personal judgements, what? And is the property located in NJ?
Judgement #1 is a Mechanics lien.
Judgement #2 is a Personal Judgement (Certificate of Debt) from the State of NJ
Yes, the property is located in NJ..
I am trying to clarify with the Tittle Rep as Judgement #2 is of a substantial amount.
Tom
Tom
If you are bidding on a subject property in a foreclosure proceeding and the foreclosing part is in 1st position the liens in question will be wiped out. In some and most cases liens related to federal and state will stick.
In your title post Judgements Filed after Lis Pendens Waived?
Are we talking about the foreclosure proceeding stopped or postponed?
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Hi John,
Sorry for the confusion.
<<Are we talking about the foreclosure proceeding stopped or postponed?
The forclosure has not been stopped or postponed. The property is coming up for auction in January.
My question relates to the fact that the two judgements were filed after the Lis Pendens was recorded. My understanding is that the two parties would not have been notified of the Lis Pendens by the foreclosing mortgage company and the judgements would still be on title after the sheriff sale had occurred.
Any insight would be appreciated.
Tom
i wouldnt worry about them they will get wiped out at the sale unless they are federal tax liens which in this case it gives the government the right of redemption from 120 days up to 1 year...
the judgment holders would not have to be noticed because the time has come and gone since the l.p. was filed ....they were cutoff as a title person may say.[ Edited by lp1 on Date 12/27/2004 ]
otsbork
No not necessarily as it depends on the type of liens and their priority status.
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