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There was a judgment lien against a person for his debts. He owned a car, boat, farm house and some land. On which would the judgment lien be placed?

A) The car only.
B) The car and boat only.
C) The farm house and the land.
D) The car, boat, farm house and the land.

User Rohit Rane
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1 Answer

4 votes

Answer:

D) The car, boat, farm house and the land.

Step-by-step explanation:

A judgment lien is a court ruling authorizing a creditor to take possession of a debtor's assets should the latter fail to meet their obligations. A lien can be issued against a business or an individual. It gives the creditor access to the debtor's business and personal assets until the judgment details are fulfilled.

A judgment against a person will give the creditor access to his personal properties. An individual has unlimited liabilities to his personal debts. Therefore, everything he owes will be attached.

User Rob Walker
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