Property Lien
A Sacramento bankruptcy attorney says: If The Lender Does Not Garnish Wages They Will Put A Lien On Your Property
A nonpossessory nonpurchase money security interest is an interest where a lender takes an interest in consumer goods or tools of the trade. In bankruptcy this interest can be avoided to the extent that the security interest impairs an exemption in such property. Impairment occurs when a debtor cannot take an exemption due to the judicial lien encumbering such property.
Impairment of an exemption is measured by first comparing the value of the interest in the property in the absence of any liens against the total of the lien to be avoided plus other liens on the property plus the amount of the exemption claimed. The exemption is impaired to the extent that all liens plus the claimed exemption is greater than the value of the property.
The above calculation is the content of any motion to avoid a judicial lien. An abstract of judgment of the lien filed in the county where the property resides should be filed along with any request to avoid a judicial lien in order to show the court that a lien exists.
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