The lien is $80,000 as a judgment note (awarded by the court in divorce) for monies put into the house. Agent says house is going into foreclosure soon and claims he will pay money up front and some of his commission if lien is released. What legal paperwork do we need to protect the remaining money owing on the judgment note?
Chapter 7 Bankruptcy Attorney
If I understand you correctly, your ex-husband got title to the house in your divorce decree, but the court awarded you an $80k judgment lien against the house for money you invested into the house (separate, non-community property). Now, your husband is facing foreclosure and is selling the house. They cannot deliver clear title to the new buyer without the release of your judgment lien. However, it sounds like they cannot satisfy the judgment in full from the sale proceeds. What you need to do is to negotiate as much $ as you can from him (without killing their sale) in exchange for a "partial release" of the judgment. I can handle this for you. I handle these all the time.
1 lawyer agrees
Debt Collection Attorney
You might ask that someone, such as the agent, post a bond for the amount. Or the agent can give you a lien on some other property. Or, you can become a party to the escrow, and deliver your lien release to the licensed escrow company on condition that the document not be recorded until you receive you money, within a certain time frame. I think that you should consult a real estate attorney to review the specifics of your situation and the relevant documents.