My name is Ron Drescher. I’m an attorney practicing
in bankruptcy and commercial litigation and I
practice in Maryland, Virginia, Delaware, and Pennsylvania. Today,
I want to talk about the different kinds of liens that are
created to protect debt obligations. The first basic lien is
really it’s a judicial lien. It’s a lien that’s created when a creditor
sues in court and gets a judgment. In most counties in the
country, if you get a judgment in court that judgment automatically
becomes a lien in the real property that that debtor holds.
So, if the debtor ever wants to go and sell or refinance, they won’t
be able to do it unless they release your lien, your property
interests in that real estate. Also, if it makes sense, if there’s
enough equity in the property, the creditor can pay the
sheriff to go out and have a foreclosure sale in connection with
that judicial lien. My name is Ron Drescher, I’m an attorney practicing
in bankruptcy and commercial litigation and if you have
a question about any of these concepts, I’d love to hear from you.
Thank you very much for watching this video.