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How long does a real property lien for a debt last?

On Behalf of | Oct 20, 2021 | Firm News

There are numerous different ways in which you can potentially collect on a debt in Florida. If you have the resources to do so, you might engage in collection activity that includes sending past-due payment notices or making phone calls to someone’s home or place of employment. 

When such efforts do not quickly resolve the matter, you may need to take more drastic steps to collect on a debt. If you go to court and secure a judgment against the person who owes you money, you can eventually secure a lien against their real property. That lien will improve your chances of securing repayment for as long as it persists.

Liens against real estate typically last for ten years

When a creditor files a lien against the property not because the property was the security instrument for a loan but because they have a judgment against that individual, the lien will usually persist for 10 years

That means that for the next decade after you record the lien against the property, the person who owes you money will not be able to sell, transfer or refinance that property without first meeting their obligations to you. After ten years, the repayment obligation does not disappear, and your lien does not have to either. You can theoretically go back to the courts and have the lien extended for another 10 years. 

Using a lien to help collect on an unpaid debt can potentially lead to the successful recovery of the funds owed to you. Learning more about liens and your other options as a creditor in Florida can help you take the right steps to ensure repayment.