How Do Attachments Affect Sale of Property? - Posted by Vlad
Posted by Vlad on September 28, 2003 at 13:02:18:
I was checking the title of a property that is to be foreclosed and came upon… well, it is so messy that I don’t think I have enough knowledge to pursue it; from IRS lien, to tax liens, to… attachments.
But here’s what I’d like to find out: this property has two attachments against it. One is the result of a judgment against owner’s relatives (they have several collective interests); he is not mentioned in that case. The amount is close to a million and therefore they attached all the properties (they could find, I guess) that belong to this family. However, he is the sole owner of this very property and, again, is not a defendant. Why is this property included?
The second judgment is against the trust (of a different property), where he’s a trustee, and therefore judgment is attached to all the properties he may own, including this one.
My questions are:
- How can this property be sold? (He’s attempting to sell it.) How these attachments encumber it? Can it be sold at a foreclosure sale? Can a lender repossess it freely?
- How is that different if the property were the only interest attached or in a group of many?
I understand that each case may be different, but I rather look for a general answer, if one can be given.
Thank you in advance,