Hi,
I have a question concerning $12,000.00 I lent to a friend on 10/07 who owns 2 properties in Sarasota Fl. I know one house is already in foreclosure. The other has not been foreclosed yet. Can I put a lien and or judgement on this property? I have a signed contract from the owner of property stating he owes the money.
Thank you for your time,
Linda

Hello linda:

You can't put a lien on property without a judgment, so you'll have to sue him first. You can put a lis pendens lien on it, meaning that the there is a lien contemplated.

excon

Fist if he has property going into foreclsoure, odds are a lien on another property will not do you any good, when they are sold, the first lien holder gets paid first, then a 2nd next, seldom is there enough money to even pay the first lien holder, I don't know if I have ever heard of a 2nd len holder ever actually getting any money.
But if you do, it will protect you in bankruptcy court, since a secure lender is treated differently.

But as noted you have to sue for a judgement first, then you can see about liens, or garnishment of wages and so on