When are judgements a lien against a property? - Posted by chadb (CO)

Posted by chadb (CO) on November 30, 2000 at 12:56:33:

Time to display my ignorance. What do you mean when you say BKed? Thanks for the help.

When are judgements a lien against a property? - Posted by chadb (CO)

Posted by chadb (CO) on November 29, 2000 at 12:20:46:

I am looking at a house that is in foreclosure that would be a great deal even if all of the current debts were paid off. One strategy I am looking at is buying a judgement at a discount and then redeeming the entire property. I am in Colorado where there is a 75 day redemption period. Each lienholder gets a chance to redeem the property. So if the judgement is against the property and I buy the judgement and then redeem the property, I would get it at about 70% of value. What I am not sure about is how I can tell if the judgement is actually a lien against the property in Colorado. Any help would be greatly appreciated.

Also . . - Posted by Bob H

Posted by Bob H on November 29, 2000 at 20:32:14:

I agree with JD’s answer. Additionally, a transcript of the judgment needs to be recorded in the county where the property is located, if it was originally granted in another jurisdiction. The date of recording, (in the county where the property is located, not the original date it was granted) will determine it’s redemption priority.

Re: When are judgements a lien against a property? - Posted by JD

Posted by JD on November 29, 2000 at 17:49:35:

I could make a lot of esoteric comments about when and if a judgement is a lien on a CO property in different circumstances. But for purposes of redemption rights it is a lien if it has been recorded, not BKed and not more than 6 years old.