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A lien is legal encumbrance placed on a debtor's property by a judgment creditor as a means to insure satisfaction for his judgment for money damages. Levy is the act of attaching the property in conformity with the applicable post-judgment collection procedures of the court that issued the judgment.
Judgment Required
In order to obtain a lien, a plaintiff must first obtain a judgment against a defendant issued by a court of competent jurisdiction.
Execution on the Judgment
Once a plaintiff obtains a judgment from the court, he must then request an Execution. An Execution is the official document that indicates that the plaintiff as a judgment creditor is entitled to the money damages as stated therein.
Significance
The act of using the Execution as a basis to either attach a judgment debtor's bank account, garnish his wages, or place a lien on his real property is commonly referred to as, "levying on the Execution."
Effects
A lien against a judgment debtor's property is filed in the local registry of deeds in which the real property is located.
Features
The lien acts as a cloud on the title and it must be dissolved or paid-off before the property can be sold or transferred.
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