This installment of “Ask Nick” with Fortune Title Agency President Nicholas Timpanaro deals with bail bonds and foreclosures. We thought this may be a topic of interest, so we wanted to share Nick’s answer with you.
Question: There is a bail bond that was not joined in the foreclosure action. I see there is a statute regarding the six-year expiration of a criminal recognizance lien (NJSA 2A:162-5). Can you advise if this lien falls under that statute? The lien is from 2007 for $50,000.
Nick’s Answer: The bail bond is recorded as a Mortgage. Therefore, it does not follow the six-year term and does not fall under the statute referenced above. You will need to contact the lender and have them discharge the lien.
We hope this Ask Nick is helpful to your work. If you have a question you’d like to Ask Nick, please email Nick.Timpanaro@fortunetitle.com.
Under no circumstances is Fortune Title Agency, Inc. or any of its employees giving any legal advice. The Ask Nick Q’s and A’s are based on situations that the company has experienced and is sharing with the public for informational purposes only. Always contact your attorney for any legal advice.