Posted by John Merchant on January 13, 2008 at 12:53:00:
An expired J is of little value to the J holder so he/she might be most amenable to settling it for pennies on the dollar…after expiration.
This route could just be cheaper than hiring your lawyer to litigate to clear the title.
If it is timely renewed, no way to clear it or the lien except to settle it with $$$.
Removing expired judgements - Posted by Keith
Posted by Keith on January 13, 2008 at 10:35:47:
I talked to a seller who has a deficiency judgement outstanding from another property and it is putting a lien on a property I am intereted in purchasing. My lawyer tells me the SOL for judgements in Ohio is 5 years which from the date of this judgement should be the beginning of Feb. Now I realize they can probabaly renew this judgement forever, but if they don’t how difficult is it to have it removed and does removing the judgement remove the existing lien ? I offered to pay off the lien but with Feb. being aroung the corner I’d like to delay closing if there is a chance to keep some extra money in my pocket.
Thanks,
Keith