A Colorado Partial Release of Judgment Lien is a legal document that allows a creditor to release a portion of a judgment lien that has been placed on a debtor's property. This type of release is commonly used when the debtor has paid off a portion of the debt or if a specific property needs to be freed from the lien. Keywords: Colorado, Partial Release of Judgment Lien, creditor, debtor, property, legal document. There are two primary types of Colorado Partial Release of Judgment Lien: 1. Partial Satisfaction Release: This type of release is utilized when a debtor has made partial payment towards the outstanding judgment amount. The creditor can file a Partial Satisfaction Release with the court, indicating the specific dollar amount that has been satisfied. This release ensures that the lien is reduced by the amount paid and allows the debtor's property to be freed from the lien to the extent of the partial satisfaction. 2. Partial Release of Property: In some cases, a debtor may request a release of specific property from the judgment lien. This can occur when the debtor wants to sell or refinance a particular property. The debtor must file a Motion for Partial Release of Property with the court, providing a valid reason for the release and supporting evidence. If the court approves the motion, a Partial Release of Property will be issued, allowing the specified property to be exempted from the judgment lien. By utilizing a Colorado Partial Release of Judgment Lien, creditors can acknowledge and release part of the outstanding debt, providing some relief to debtors. It is essential to follow the proper legal procedures and consult with an attorney familiar with Colorado laws to ensure compliance with all necessary requirements.
Colorado Partial Release of Judgment Lien
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How to fill out Colorado Partial Release Of Judgment Lien?
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