Judgment Liens on Property in New York

In New York, a judgment lien may be assigned to real or personal property to collect a court judgment.

In a civil court matter, a judgment is issued by the court after a judge or jury renders a verdict – or after a court-approved settlement. A typical judgment includes an order for money to be paid from one person to another. However, the individual who owes the money (the debtor) does not always pay it back. A judgment lien is one method of ensuring that the person who obtained the judgment (the creditor) receives what is due to him or her. A judgment lien grants the creditor the right to receive a set amount of money from the profits of the debtor’s property sale.

What types of property are susceptible to a judgment lien in New York?

A judgment lien may be connected to the debtor’s real estate in New York, which includes a home, condo, land, or other kind of property interest. Furthermore, judgment liens on the debtor’s personal property, including as jewelry, art, antiques, and other valuables, are permitted in New York.

In New York, how can a creditor get a judgment lien?

The creditor files the judgment transcript with the county clerk in the New York county where the debtor’s property is situated to attach the lien.

In New York, how long does a judgment lien last?

In New York, a judgment lien remains connected to the debtor’s property for 10 years (even if the property changes ownership).

Keep in mind that in New York, a creditor’s ability to collect under a judgment lien is influenced by a number of factors, including a fixed amount of value that cannot be touched if the property is the debtor’s primary residence (known as a homestead exemption), other liens that may be in place, and any foreclosure or bankruptcy proceedings. If things grow confusing, you may want to consult with an expert New York bankruptcy and debt attorney to assist you sort out any lien concerns.

Where can I get information about New York judgment liens?

If you want to go directly to the source and seek up New York laws on judgment liens — maybe you’re a party to a judgment, or you’re merely studying possible encumbrances on property — the applicable statute(s) may be found at N.Y. C.P.L.R. Sections 5201 to 5203.