Judgments

Standard Exception Topic

JUD


Judgments

The names of persons recently in the chain of title and the names of purchasers should be checked for judgments and tax liens (and other relevant matters such as divorces and probates).

Requirements

Standard Exception Subtopic

JUDR01

STG

12/01/1995
V 2

Search of Names

The Company requires a search and examination for judgments and tax liens against __________________.
Comment: If the initial title search does not include a general lien search against the named persons, you must require such a separate search.

See Underwriting Manual


Standard Exception Subtopic

JUDR02

STG

12/01/1995
V 2

Name of Buyers

The Company requires the name of the proposed purchasers in order to secure a search for any applicable judgment, tax, and other statutory liens and matters. The Company may then make additional exceptions and requirements.
Comment: It is appropriate to do a search under the buyer’s name since numerous matters including tax liens and judgment liens may be relevant. Although a federal tax lien or judgment lien against the buyer generally is subordinate to a purchase money mortgage, this is not true in all states and is not true of United States judgments. If the tax lien or judgment lien is subordinate, it should be shown in Schedule B-Part II.

Standard Exception Subtopic

JUDR03

STG

12/01/1995
V 2

Release of Judgments

The following judgment(s) or federal tax lien(s) must be satisfied of record:
Comment: Judgment liens are effective for different times in different states; however, U.S. judgments are effective for at least 20 years and can be refiled. Federal tax liens are effective 10 years and 30 days from assessment and can be refiled.

Standard Exception Subtopic

JUDR04

STG

12/01/1995
V 2

Attachment

Terms and conditions of writ of attachment issued in the action entitled ________________________, Case or Docket Number ___________________ and recorded _____________________. The Company requires for its review (i) satisfactory evidence that there has been no sale of the land pursuant to the writ, and (ii) a release or other satisfaction of the writ. At that time, the Company may make additional requirements or exceptions.
Comment: If a writ of attachment is filed, you must verify that no sale has occurred and you must require a release.

See Underwriting Manual


Standard Exception Subtopic

JUDR05

STG

12/01/1995
V 2

Writ of Execution

A writ of execution to enforce said judgment was recorded ____________. The Company requires for its review satisfactory evidence that no sale has occurred and a release of the writ.
Comment: Execution sales are extrahazardous and should not be insured unless you secure the Company’s approval.
$_____________,
Perfected:  ___/___/____,
Docketed: ___/___/____,
Debtor:  _________________
Creditor:  _________________,
Attorney for Judgment Creditor ___________________.]

Judgment in:  ________ Court, ________ County;
Amount:  $_____________,
Perfected:  ___/___/____,
Docketed: ___/___/____,
Debtor:  _________________
Creditor:  _________________,
Attorney for Judgment Creditor ___________________.]

Note: You may add additional local requirements here. Please consult with our underwriting personnel in preparing appropriate provisions.

See Underwriting Manual


Exceptions

Standard Exception Subtopic

JUDX01

ALTA

12/01/1995
V 2

Judgment Lien

A Judgment, a certified copy of which was recorded _____________.
Court:
Case No.:
Entry Date:
Debtor:
Creditor:
Amount: $__________ and any other amounts due thereunder.
Filing attorney’s information:
 Name:
 Address:
 Phone Number:
Comment: The effective time limit for judgments varies. However, U.S. judgments are effective at least 20 years and can be refiled.

Standard Exception Subtopic

JUDX02

ALTA

12/01/1995
V 2

Abstracts of Judgments

An Abstract of judgment recorded _______________.
Court:
Case No.:
Entry Date:
Debtor:
Creditor:
Amount: $_____________ and any other amounts due thereunder.
Filing attorney’s information:
 Name:
 Address:
 Phone Number:
Comment: In some jurisdictions, a judgment lien is created by recording a separate abstract of judgment. The effective time limit varies. However, U.S. judgments are effective at least 20 years and can be refiled.

Standard Exception Subtopic

JUDX03

ALTA

12/01/1995
V 2

Extended Judgment

The judgment lien recorded _____________ has been extended by order recorded ____________.
Comment: In some state jurisdictions, a judgment lien can be extended or revived. If that procedure is followed, the judgment lien retains its initial priority.

Standard Exception Subtopic

JUDX04

ALTA

12/01/1995
V 2

Revived Judgment

The judgment lien recorded _______________ has been revived by order recorded __________________.
Comment: In some state jurisdictions, a judgment lien can be extended or revived. If that procedure is followed, the judgment lien retains its initial priority.

Standard Exception Subtopic

JUDX05

ALTA

12/01/1995
V 2

Judgment Assigned

The interest of the creditor in the judgment recorded _____________ has been assigned to __________ by the assignment recorded _______________.
Comment: The assignment of a judgment typically is filed in the local real property records.

Standard Exception Subtopic

JUDX06

ALTA

12/01/1995
V 2

Judgment of Support

A Judgment for child, family, or spousal support, a certified copy of which, recorded ______________.
Court:
Case No.:
Entry Date:
Debtor:
Creditor:
Filing Attorney’s Information:
 Name:
 Address:
 Phone:
Comment: Use this exception if the judgment secures support payments. In some jurisdictions, support judgments are not subject to any statute of limitations.

Standard Exception Subtopic

JUDX07

STG

12/01/1995
V 2

Judgment Lien

Judgment lien in favor of ____________ against ____________ in the amount of ____________ plus costs, attorneys’ fees and interest recorded ____________.
Comment: The effective time limit for judgments varies. However, U.S. judgments are effective at least 20 years and can be refiled.

See Underwriting Manual


Standard Exception Subtopic

JUDX08

STG

12/01/1995
V 2

Abstracts of Judgments

Abstract of Judgment in favor of ____________ against ____________ in the amount of ____________ plus costs, attorneys’ fees and interest recorded ____________.
Comment: In some jurisdictions, a judgment lien is created by recording a separate abstract of judgment. The effective time limit varies. However, U.S. judgments are effective at least 20 years and can be refiled.

[set forth names]

{The following returns were found: [set forth]}

{Nothing was found.}

Note: If any federal tax liens are turned out, same must be disposed of, or an exception will be taken in the policy.

Note: You may add additional local exceptions here. Please consult with our underwriting personnel in preparing appropriate provisions.

See Underwriting Manual