What is a judgment lien in civil law?

A judgment lien is a legal process used in civil law in Colorado that allows a creditor to secure money owed from a debtor. When a debtor fails to pay a debt owed to a creditor, the creditor can take legal action to recover the money by filing a lawsuit in court. If the court finds in favor of the creditor, a judgment will be issued against the debtor. The judgment will include an amount of money to be paid, plus interest and court costs. Once the judgment is issued, the creditor can then obtain a judgment lien against any real or personal property that the debtor may own. A judgment lien gives the creditor the right to take possession of and sell the debtor’s property in order to pay the outstanding debt. The lien also prevents the debtor from selling their assets without paying the creditor first. Judgment liens are sometimes called a writ of execution and are used as a last resort because they can have serious financial and legal consequences. For example, if a debtor owns a house they may risk losing it to the creditor if they do not pay the owed amount. Additionally, the judgment lien will remain on the debtor’s assets for up to 20 years in Colorado.

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What is a judgment lien in civil law?

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