If your family law judgment does not have an interest on late payment clause, can you collect interest? “Part of a judgment of dissolution which awards money in lieu of an in-kind division of non-monetary community property is a money judgment on which interest accrues from the date of its entry.” IRMO Pollard (1988) 204 Cal.App.3d 1380, 1382. In short, if you have an equalizing payment as part of your divorce judgment, you may collect interest from the date of the Notice of Entry of Judgment. Interest accrues a the rate of 10 percent per year (CCP § 685.010(a)). Interest commences to accrue on a money judgment on the date of entry of the judgment (CCP § 685.020(a)).
If a money judgment is partially satisfied, interest ceases as to the part satisfied on the date the part is satisfied (CCP §685.020(c)). The date a money judgment is satisfied in full or in part is the earliest of the following times: (1) the date satisfaction is actually received by the judgment creditor. (CCP §685).020(d)(1)).
If you are waiting for a delayed payment, or received a delayed payment in a family law case, you may be entitled to interest. Call Morales Law today for a free consultation. (805) 422-7966