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  1. #1
    VacationTexas is offline Junior Member
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    Abstract Judgements

    Texas

    A Bank was awarded a judgement against an individual in 1988. There was an Abstract Judgement filed in that county along with a surrounding county. In 1998 the Judgement was renewed? in the orginal county but not recorded in the surrounding County.

    The individual whom the Judgement was against had owned property in the surrounding county (same county which had the Abstract Judgement recorded in 1988 but not filed in 1998).

    The School board forclosed on the property in 2003 for non payment of taxes. No one bid at the auction and the property went into a Tax Trust and is open for bids to the general public.

    Question: Does the Bank have any claim against the property?
  2. #2
    stevek3 is offline Member
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    Quote Originally Posted by VacationTexas
    Texas

    A Bank was awarded a judgement against an individual in 1988. There was an Abstract Judgement filed in that county along with a surrounding county. In 1998 the Judgement was renewed? in the orginal county but not recorded in the surrounding County.

    The individual whom the Judgement was against had owned property in the surrounding county (same county which had the Abstract Judgement recorded in 1988 but not filed in 1998).

    The School board forclosed on the property in 2003 for non payment of taxes. No one bid at the auction and the property went into a Tax Trust and is open for bids to the general public.

    Question: Does the Bank have any claim against the property?
    A lawyer made a "very negligent boo-boo." That's a legal term.
  3. #3
    VacationTexas is offline Junior Member
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    Still in Texas

    So am I lead to believe that the bank has no claims on the out of county property?
  4. #4
    JETX is offline Senior Member
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    Quote Originally Posted by VacationTexas
    So am I lead to believe that the bank has no claims on the out of county property?
    Yep. A lien (as created by the Abstract) expires in 10 years, just like the judgmnet. And when the judgment was renewed, the 'new' Abstract should have been recorded to refresh the lien(s).

    Once a lien is created, it continues for ten years following the date of recording and indexing the abstract, unless the judgment becomes dormant
    during that period. (Tex. Prop. Code Ann. § 52.006).
    It is essential both to keep the judgment lien alive and to keep its priority in place by recording and indexing a new abstract before the expiration of ten years from the date the last abstract was recorded and executing on the judgment to keep it from becoming dormant. Because each abstract creates
    a new lien, recording and indexing an abstract more than ten years after the immediately preceding one was recorded and indexed creates a new lien, but the break causes a loss of the preceding lien and its priority in the chain of title. See Burton Lingo Co. v. Warren, 45 S.W.2d 750 (Tex. Civ. App.—Eastland 1931, writ ref’d).

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