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.
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What types of property are susceptible to a judgment lien in Missouri?
A judgment lien may be connected to the debtor’s real estate in every state, which includes a home, condo, land, or other kind of property interest. In addition, certain jurisdictions permit judgment liens on the debtor’s personal property, including as jewelry, art, antiques, and other valuables.
Only real estate in Missouri may have a judgment lien attached to it (like a house, condo, or land).
In Missouri, how can a creditor get a judgment lien?
Any debtor property situated in the Missouri county where the judgment is issued instantly becomes a judgment lien. The creditor files the judgment with the county circuit clerk for debtor property situated outside the county where the judgment is issued.
In Missouri, how long does a judgment lien last?
In Missouri, a judgment lien remains connected to the debtor’s property for 10 years (even if the property changes ownership).
Keep in mind that in Missouri, 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 matters get problematic, you should consult with an expert Missouri bankruptcy and debt attorney to assist you in resolving any lien concerns.
Where can I get information on Missouri law regarding judgment liens?
If you want to go straight to the source and seek out Missouri laws on judgment liens – maybe you’re a party to a judgment or simply looking for possible encumbrances on property – the applicable statute(s) can be found in Mo. Rev. Stat. Sections 511.350 to.360; Mo. Civ. Proc. Rule 74.08, 74.13.