Is An Abstract Of Judgment Equivalent To A Lien?

Is judgment considered a specific lien? Let’s explore the differences between specific and general liens to clarify this concept.

A specific lien, such as a mortgage, is directly tied to a particular piece of property. It’s voluntary because the property owner willingly enters into an agreement to secure a loan against that specific asset. In the case of a mortgage, the property serves as collateral.

On the other hand, a judgment lien falls under the category of a general, involuntary lien. Unlike specific liens, which are property-specific, judgment liens can be applied against any of an individual’s assets. These liens are typically the result of a legal judgment, often related to a debt or lawsuit, and can encompass various assets, including bank accounts, real estate, and personal property. In summary, while a mortgage exemplifies a specific lien, a judgment lien represents a general lien that can encumber multiple types of assets.

What is the statute of limitations on an abstract of judgment in Texas? When it comes to judgments awarded in Texas to a non-government creditor, they are typically valid for ten years initially, but it’s important to note that they can be renewed for extended periods. If a judgment is not renewed within the specified timeframe, it will become dormant. As of August 16, 2023, the statute of limitations for such judgments stands at ten years. This means that after ten years, the judgment can still be enforced if renewed, but it may become unenforceable if not renewed within the specified timeframe.