Question

Mr. Foster owns an automobile, a boat, a house, and a farm. He defaults on the mortgage covering his house. If a judgement lien is entered, which of the following properties could be subject to the judgement lien?

1) Automobile
2) Boat
3) House
4) Farm

Answer 1

A judgement lien can attach to all properties owned by Mr. Foster including his automobile, boat, house, and farm, potentially affecting all these assets.

Step-by-step explanation:

When Mr. Foster defaults on the mortgage of his house and a judgement lien is entered, the lien can potentially attach to all of his properties including the automobile, boat, house, and farm. After a judgement lien is entered by a court, it generally attaches to both the property that was the subject of the mortgage as well as other real estate owned by the debtor within the same county where the lien is recorded. Furthermore, depending on the state laws, the lien can also reach other types of personal property.