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judgment lien
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Posted by anon
(156.110.226.54) on October 24, 2003 at 18:38:12:
Several months ago I sold a piece of real estate. The buyers were financing through XYZ Bank who I also do business with. XYZ Bank performed the closing and handed me my profit. After this closing I paid some of my profit from the sale on my bank note with XYZ Bank. The rest of the profit was spent rather quickly to pay off other debts. NOW HERE IS MY PROBLEM... a few months after the closing, XYZ Bank contacts me and says there is a problem. They just now found out that their was a lien on the property. (I had completely forgot about the judgment, it was several years old.) Now XYZ Bank is hounding me to pay the lien off so they can finish their paperwork. I would have paid the lien the day of closing if I had been informed of it then, while I had the money. The profit has already been spent and I cannot pay the lien. Do I have any rights since the bank didn't inform me of the lien by the time of closing? Any ideas?
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