Does a renewal judgment lien have retroactive effect?Thomas Tripodianos
August 27, 2009 — 268 views
Question. In 1991, plaintiff Judgment-Creditor obtained a default judgment against Judgment-Debtor for approximately $470,000 due on a note. On October 23, 1991, the judgment was docketed and acted as a lien on a Manhattan condominium owned by Judgment-Debtor. While a money judgment award is enforceable for 20 years, a real property lien resulting from the judgment is viable for just 10 years. But a renewal action may be brought between the same parties to the original action during the tenth year to extend the lien for an additional 10-year period.