judgments bankruptcy
What will happen to a judgment lien on my residential investment property after I file personal bankruptcy?
I have a judgment lien on a residential investment property that I own 25% of. This is the only RE that I own. The mortgage on the property is $115k, the lien is $110k and the property is valued at $200k. If I file personal bankruptcy (Chapter 7), will the lien be removed? What if I sell my share to my partners, do they have to pay the full amount of the lien? Does the lien remain with the property even though I sold my share?
What state are you in?
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