Escrow & Title
In Vermont, a 'judgment lien' attaches to a property owner's real estate when a creditor:
AFiles a complaint in any court anywhere in the United States
BObtains a court judgment against the property owner and records (or dockets) it in the appropriate Vermont court record✓ Correct
CSimply sends a demand letter to the property owner
DFiles a mechanic's lien for unpaid services
Explanation
A judgment lien on Vermont real property arises when a creditor obtains a court judgment and properly dockets/records it. The lien then attaches to all real property the debtor owns in Vermont, appearing in title searches and requiring satisfaction before clear title can be conveyed.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Math Concepts
State-Specific Concepts
Mechanic's Lien
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