A property lien may be used to collect a court judgment in Wisconsin. This is how it works:
A judgment is entered by the court after a judge or jury renders a decision — or after a court-approved settlement — in a civil court case. A standard decision includes an order for money to be paid from one person to another. However, the debtor (the person who owes the money) does not always pay. A judgment lien is one method of ensuring that the person who received the judgment (the creditor) receives the money owed to him or her. A judgment lien grants a borrower the right to receive a certain sum of money from the proceeds of the debtor's property sale.
So, how do Wisconsin judgment liens work? In this article, we discuss judgement liens in Wisconsin, and address the following questions:
- Under Wisconsin law, what types of property are subject to a judgment lien?
- In Wisconsin, how can a borrower obtain a judgment lien?
- In Wisconsin, how long does a decision lien last?
- Where do I find information on Wisconsin's judgment liens laws?
Under Wisconsin law, what types of property are subject to a judgment lien?
A judgment lien may be applied to the debtor's real estate in any state, which includes a home, apartment, land, or other similar property interest. In certain jurisdictions, judgment liens may also be imposed on the debtor's personal property, such as jewelry, paintings, antiques, and other valuables.
Only real estate may be added to a judgment lien in Wisconsin (meaning a house or similar property interest).
In Wisconsin, how can a borrower obtain a judgment lien?
On the debtor's property in the Wisconsin county where the judgment is entered, a judgment lien is automatically established. The borrower files a copy of the judgment with the clerk of the circuit court where the debtor's property is located for debtor property in other Wisconsin counties.
In Wisconsin, how long does a decision lien last?
In Wisconsin, a judgment lien is applied to the debtor's property for ten years (even though the property changes hands).
Keep in mind that a creditor's right to recover under a judgment lien in Wisconsin may be influenced by a variety of factors, including a fixed amount of value that won't be touched if the property is the debtor's primary residence (known as a homestead exemption), any liens that might exist, and any mortgage or bankruptcy proceedings. If things get too complicated, you may want to consult with a Wisconsin bankruptcy and debt lawyer to help you resolve any lien issues.
Where do I find information on Wisconsin's judgment liens laws?
If you want to go straight to the source and look up Wisconsin laws on judgment liens — perhaps you're a party to a judgment or just looking at possible property encumbrances — the applicable statute(s) can be found at Wis. Stat. Ann. Sections 806.14 to.15.
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To learn about how to place a judgement on property in Iowa, click here.
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