If a co . files an abstract of judgment and that co . goes out of business ; what happens to the abstract of judgment ?

Asked over 1 year ago - El Cajon, CA

A stay of enforcement was not ordered by the court . I understand that only the person or party can release the lien . But if the party is a business that is going to no longer exist , is it still enforceable ?

Attorney answers (3)

  1. James Carl Eschen III

    Contributor Level 16

    6

    Lawyers agree

    Answered . Rights under the judgment would pass to whoever obtained the business's assets upon dissolution, be they shareholders, members, or partners. Those parties could then enforce the lien as well as release it.

    If their identity cannot be determined, you have a problem. Ten years after entry of the judgment, it and the judgment lien become unenforceable unless renewed. Because no one can renew it, that problem will end.

  2. Kevin Samuel Sullivan

    Pro

    Contributor Level 20

    3

    Lawyers agree

    Answered . who ever owns the assets of the business would be entitled to enforce the judgment lien.

  3. Richard Scott Lysle

    Contributor Level 17

    2

    Lawyers agree

    Answered . If you need to clear title right away, you might consider filing an action to "Quite Title."

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