If I owned no property at the time a judgment was placed against me, what happens with future property?

Question

If I owned no property at the time a judgment was placed against me, what happens with future property?

Answer 1

The laws are different in every state but in California what the others have said is true.  When you go to buy or sell a property the judgment will have to be satisfied before you can complete the transaction.  Not to mention the effect on your credit.

Answer 2

If your going to buy a property and go to the bank for a loan, it will show up on your credit report and adversely effect your credit score.  

Answer 3

Judgmets tend to be valid for a long time.  For example, in NY, a judgment is good for 10 years and then can be renewed for an additional 10 years.  Your property will be at risk for a long time.

Answer 4

If there is a blanket lien place, then all property you own is subject to that lien. The includes property you currently own, and property you acquire.  An example is an income tax lien.  If you own property, you can not sell it, or use it to secure a loan, until the lien is satisfied.

Answer 5

It will attach to your property depending on the lien type once you acquire real property.

However, if your trying to obtain a loan -- chances are your Lender will catch it and require it be paid off.