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    Care bare's Avatar
    Care bare Posts: 1, Reputation: 1
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    #1

    May 6, 2007, 10:54 AM
    Curious about a judgement/execution
    I had a line of credit at the bank, sold my house and did not have enough proceeds to cover the full line of credit, and a judgement/execution was placed against me in Ontario, Canada. How long will this judgement/execution remain? I do not currently own my own property and am unemployed at the moment.

    Also, if I inherit property from my parents, can they lien or power of sale the property to collect the debt?
    GV70's Avatar
    GV70 Posts: 2,918, Reputation: 283
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    #2

    May 7, 2007, 05:55 PM
    Quote Originally Posted by Care bare
    I had a line of credit at the bank, sold my house and did not have enough proceeds to cover the full line of credit, and a judgement/execution was placed against me in Ontario, Canada. How long will this judgement/execution remain? I do not currently own my own property and am unemployed at the moment.

    Also, if I inherit property from my parents, can they lien or power of sale the property to collect the debt?
    6 or 7 years... If you inherit property-they can lien and power of sale the property to collect the debt.
    GV70's Avatar
    GV70 Posts: 2,918, Reputation: 283
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    #3

    May 9, 2007, 07:12 AM
    You are welcome!
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    May 9, 2007, 11:46 AM
    Hello Care:

    In the US, most judgments last between 5 to 10 years. The length of time is governed by the state where the judgment was issued. They can be renewed, however, some of them in perpetuity. I wouldn't be surprised to find that our neighbors to the north have similar laws.

    Indeed, why would Canadians give scofflaws such a break?

    To be on the safe side, however, before you inherit property, you can certainly check the status of the judgment at the courthouse where it was awarded.

    excon
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