An abstract of judgment is a written summary of a court’s judgment (final decision made by the judge or jury) that reflects how much the party who lost a lawsuit (the judgment debtor) owes the party who won the lawsuit (the judgment creditor)—including the rate of interest owed on the amount of the judgment until it is paid, the amount of court costs, and possibly the amount of the judgment creditor’s attorney fees the judgment debtor must pay as part of the judgment.
An abstract of judgment is usually filed in the county records and serves as notice of a lien or claim on any real estate (real property) owned or acquired by the judgment debtor in that county. If the judgment debtor does not pay the judgment, the judgment creditor may be able to force a sheriff’s sale of any real property in the county owned by the judgment debtor, with some or all of the proceeds of the sale being used to pay the judgment.
In Washington State, an abstract of judgment is a formal document that encapsulates the details of a court's judgment in a lawsuit, indicating the amount owed by the judgment debtor to the judgment creditor. This includes the principal amount, interest rate, court costs, and potentially attorney fees. Once the abstract of judgment is filed with the county recorder's office, it creates a lien on any real property owned by the debtor within that county. This serves as a public notice that the creditor has a claim against the debtor's property. If the debtor fails to satisfy the judgment, the creditor may enforce the lien and potentially initiate a sheriff's sale of the property to recover the debt. The proceeds from such a sale would first go towards paying off the judgment, including any associated costs. It's important to note that certain exemptions may apply, protecting some of the debtor's property from being sold. An attorney can provide specific guidance on how to file an abstract of judgment and enforce a lien in accordance with Washington State laws.