Jul 24 Flashcards
What steps should L take to force sale of B’s lake house under VA law?
- Every judgment rendered in VA is a lien on real estate D possessed from the time J is recorded in the Circuit Court on the J lien docket.
- Suit in equity may be brought to enforce a lien of J and force sale.
- If rent and profits not enough to satisfy J after 5 years, ct can order sale
- File complaint to force sale. .
How to best protect interest in land that you have J lien on?
File memo of lis pendens.
What must memo of lis pendens include (5)
- title of COA
- Object/property
- Name of the property owner/i.e. person affected
- amount of claim
- court where action is pending
How to get lien on tangible personal property?
Writ of fieri facias
What is writ of fieri facias
Commands sheriff or official to repossess and sell the personal property.
Must be public auction.
Must be near D’s residence.
Must give D 10 days notice.
Sheriff must report back on property details and action sought within 90 days.
Within how long do you need to file writ of fieri facias
Within 21 days from judgment
Exemptions to claim if someone is recover debt from you
- Homestead exemption - $5000 if real and property and less than 65, $10K if over 65, $50K if primary residnece)
- Spousal support to extent reas necessary
- Poor debtor’s exemption (furnishings, clothes, family heirlooms, unpaid spousal support, tools for occupation, moto vehicles, if engaged in agriculture, then also tractor and fertilizer)
How long does judgment lien against RE last?
10 years. Can be extended twice if you give notice before expiration.
