Abstract of WHAT

[txlady]

What is the name of your state? Texas
I am currently trying to sell an estate property. In doing the title search, the title company discovered an "Abstract of Judgement" for $47,000 plus dollars. This judgement was placed against my brother, who is part of the estate, in 2002. Since the judgement, the business that filed the judgement is no longer in business. To make matters worse, there is a huge amount of outstanding property taxes due. The proceeds from the sell were going to take care of this matter. Now I have the tax collectors ready to take the property. I currently have a contract from a potential buyer. He is an investor and wants to close ASAP. How can I get the judgement removed without getting into a long legal battle and paying attorneys money that I just do not have?What is the name of your state?

[nextwife]

Does brother's interest have enough equity to "hold out" sufficient funds from his sdhare to both cover any interest and the judgement? If so, ask the title company if they will agree to hold out the disputed funds, etc. from brother's half and eitther pay off the judgement or release the funds if brother can negotiate with the creditor and get a satisfaction of the jusdement. This would allow the transaction to close.

[seniorjudge]

Originally Posted by txlady

What is the name of your state? Texas
I am currently trying to sell an estate property. In doing the title search, the title company discovered an "Abstract of Judgement" for $47,000 plus dollars. This judgement was placed against my brother, who is part of the estate, in 2002. Since the judgement, the business that filed the judgement is no longer in business. To make matters worse, there is a huge amount of outstanding property taxes due. The proceeds from the sell were going to take care of this matter. Now I have the tax collectors ready to take the property. I currently have a contract from a potential buyer. He is an investor and wants to close ASAP. How can I get the judgement removed without getting into a long legal battle and paying attorneys money that I just do not have?What is the name of your state?

He is an investor and wants to close ASAP.

I'll just bet he does.

[txlady]

Unfortunatley this particular part of the estate that is selling will not cover anymore than taxes and other fees attached to the property. So the answer to "does brother's interest cover this" would be no. The investor mentioned that I could possibly transfer the judgement to another property. I DON"T THINK SO. This would leave me in the same position that I am currently in when I sell that property, which by the way I am selling 2 more properties that are "mine". I already have a contract on one of those properties by another buyer and the other one will be purchased from me by "my soon to be exhusband". Should I start looking for the previous owners of the business that have the judgement against my brother? Or is there something that I can file with the court to have this judgement removed since the business is no longer?

[nextwife]

Originally Posted by txlady

Unfortunatley this particular part of the estate that is selling will not cover anymore than taxes and other fees attached to the property. So the answer to "does brother's interest cover this" would be no. The investor mentioned that I could possibly transfer the judgement to another property. I DON"T THINK SO. This would leave me in the same position that I am currently in when I sell that property, which by the way I am selling 2 more properties that are "mine". I already have a contract on one of those properties by another buyer and the other one will be purchased from me by "my soon to be exhusband". Should I start looking for the previous owners of the business that have the judgement against my brother? Or is there something that I can file with the court to have this judgement removed since the business is no longer?

If the estate's asset is devalued by the judgement, talk to your estate attorney about taking the judgement payoff amount from other assets that brother may get a share of.

The judgement against brother doesn't just go away simply because brother closed the business. But it is up to brother to see if he can negotiate a settlement.

[txlady]

I think that I didn't quite make myself clear. My brother does not nor has never owned a business. The judgement against my brother is from a business that he either worked for (he's a truck driver) or possibly an accident that he had with this company. The company that brought the judgement against my brother is no longer around. They have closed their doors.

[nextwife]

THere would be an attorney who handled the filing. Their name should be on the judgement docs. Brother needs to contact the attorney.

Was brother served in this action? Was he aware of it? Didn't his employer have insurance to cover mishaps? Was brother an employee or contractor?

[txlady]

Well duh. I should have thought about that. I do have a copy of the judgement. I'll just work from there. Thanks so much. As we all know, sometimes it takes an outsider to state the obvious.