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Judgements against an LLC (BUSINESS & FINANCIAL & Corporate LAW)

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• Sat, 11 Sep 2004 06:42:00 GMT(1)

• Quote:

  Originally Posted by Edradine Hovde

  What is the timeframe in which the favorable judgement party must act?

  A California judgment is valid for 1 years, and renewable for another 1 .
  C.C.P. 683. 2 :
  "Except as otherwise provided by statute, upon the expiration of 1 years after the date of entry of a money judgment or a judgment for possession or sale of property:
  (a) The judgment may not be enforced.
  (b) All enforcement procedures pursuant to the judgment or to a writ or order issued pursuant to the judgment shall cease.
  (c) Any lien created by an enforcement procedure pursuant to the judgment is extinguished."
  Renewal of the judgment is covered in:
  683.11 . (a) The period of enforceability of a money judgment or a judgment for possession or sale of property may be extended by renewal of the judgment as provided in this article.
  (b) A judgment shall not be renewed under this article if the application for renewal is filed within five years from the time the judgment was previously renewed under this article.
  683.12 . (a) The judgment creditor may renew a judgment by filing an application for renewal of the judgment with the court in which the judgment was entered.
  (b) Except as otherwise provided in this article, the filing of the application renews the judgment in the amount determined under Section 683.15 and extends the period of enforceability of the judgment as renewed for a period of 1 years from the date the application is filed.
  (c) In the case of a money judgment payable in installments, for the purposes of enforcement and of any later renewal, the amount of the judgment as renewed shall be treated as a lump-sum money judgment entered on the date the application is filed.
  683.13 . (a) In the case of a lump-sum money judgment or a judgment for possession or sale of property, the application for renewal of the judgment may be filed at any time before the expiration of the 1 -year period of enforceability provided by Section 683. 2 or, if the judgment is a renewed judgment, at any time before the expiration of the 1 -year period of enforceability of the renewed judgment provided by Section 683.12 .
  (b) In the case of a money judgment payable in installments, the application for renewal of the judgment may be filed:
  (1) If the judgment has not previously been renewed, at any time as to past due amounts that at the time of filing are not barred by the expiration of the 1 -year period of enforceability provided by Sections 683. 2 and 683. 3 .
  (2) If the judgment has previously been renewed, within the time specified by subdivision (a) as to the amount of the judgment as previously renewed and, as to any past due amounts that became due and payable after the previous renewal, at any time before the expiration of the 1 -year period of enforceability provided by Sections 683. 2 and 683. 3 ."
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