Colorado Release of Judgment Lien - Abstract of Judgment

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-1111
• Format: Word; Rich Text

Description

This form is a release of judgment lien for abstract of judgment. A Colorado Release of Judgment Lien, also known as an Abstract of Judgment, is a legal document used to release or remove a judgment lien from a property in Colorado. When a person or a business obtains a judgment against another party in a court of law, they may seek to place a lien on the debtor's property to ensure the payment of the debt. However, once the debt has been satisfied or settled, the judgment creditor can file a Release of Judgment Lien or Abstract of Judgment to remove the lien from the property records. There are several types of Colorado Release of Judgment Lien — Abstract of Judgment, depending on the specific circumstances and requirements: 1. Full Satisfaction Release: This type of release is used when the judgment creditor has received the full payment for the outstanding debt. It states that the judgment has been satisfied, and the lien is being released from the property. 2. Partial Satisfaction Release: If the judgment creditor receives only a partial payment towards the debt, they may file a Partial Satisfaction Release. This document acknowledges the payment received and reduces the amount owed, but the lien may still remain on the property for the remaining balance. 3. Release After Expiration: In some cases, a judgment lien may automatically expire after a certain period of time, typically ten years in Colorado. If the judgment creditor fails to renew the lien within the specified time frame, it becomes invalid, and a Release After Expiration can be filed to remove the lien from the property records. 4. Release Due to Bankruptcy: If the debtor files for bankruptcy and obtains a discharge of the debt, the judgment lien may be released. A Release due to Bankruptcy is filed to eliminate the lien from the property following the bankruptcy proceedings. When filing a Colorado Release of Judgment Lien — Abstract of Judgment, certain essential information should be included, such as the names and addresses of both the judgment creditor and debtor, the case number, the court where the judgment was entered, and the date of the judgment. It is crucial to accurately complete the document to ensure the proper release of the lien and prevent any potential legal complications. In summary, a Colorado Release of Judgment Lien — Abstract of Judgment is a legal document used to release or remove a judgment lien from a property's records. Different types of releases exist, including Full Satisfaction Release, Partial Satisfaction Release, Release After Expiration, and Release due to Bankruptcy, each catering to specific circumstances. Accurate completion of the release document is crucial to guarantee the appropriate removal of the lien.

A Colorado Release of Judgment Lien, also known as an Abstract of Judgment, is a legal document used to release or remove a judgment lien from a property in Colorado. When a person or a business obtains a judgment against another party in a court of law, they may seek to place a lien on the debtor's property to ensure the payment of the debt. However, once the debt has been satisfied or settled, the judgment creditor can file a Release of Judgment Lien or Abstract of Judgment to remove the lien from the property records. There are several types of Colorado Release of Judgment Lien — Abstract of Judgment, depending on the specific circumstances and requirements: 1. Full Satisfaction Release: This type of release is used when the judgment creditor has received the full payment for the outstanding debt. It states that the judgment has been satisfied, and the lien is being released from the property. 2. Partial Satisfaction Release: If the judgment creditor receives only a partial payment towards the debt, they may file a Partial Satisfaction Release. This document acknowledges the payment received and reduces the amount owed, but the lien may still remain on the property for the remaining balance. 3. Release After Expiration: In some cases, a judgment lien may automatically expire after a certain period of time, typically ten years in Colorado. If the judgment creditor fails to renew the lien within the specified time frame, it becomes invalid, and a Release After Expiration can be filed to remove the lien from the property records. 4. Release Due to Bankruptcy: If the debtor files for bankruptcy and obtains a discharge of the debt, the judgment lien may be released. A Release due to Bankruptcy is filed to eliminate the lien from the property following the bankruptcy proceedings. When filing a Colorado Release of Judgment Lien — Abstract of Judgment, certain essential information should be included, such as the names and addresses of both the judgment creditor and debtor, the case number, the court where the judgment was entered, and the date of the judgment. It is crucial to accurately complete the document to ensure the proper release of the lien and prevent any potential legal complications. In summary, a Colorado Release of Judgment Lien — Abstract of Judgment is a legal document used to release or remove a judgment lien from a property's records. Different types of releases exist, including Full Satisfaction Release, Partial Satisfaction Release, Release After Expiration, and Release due to Bankruptcy, each catering to specific circumstances. Accurate completion of the release document is crucial to guarantee the appropriate removal of the lien.