District of Columbia Release of Judgment Lien

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-1110
• Format: Word; Rich Text

Description

If an owner of an interest in real property has had a judgment obtained against him or her, this form addresses a release of that judgment lien. Title: District of Columbia Release of Judgment Lien: Understanding the Process and Types Introduction: The District of Columbia Release of Judgment Lien is a legal process that allows a creditor to remove or release a judgment lien placed on a property. This essential procedure provides relief to debtors by eliminating restraints on the property's title, enabling them to regain control over their assets. In this article, we will delve into the intricacies of the District of Columbia Release of Judgment Lien process and explore any additional types that may exist. 1. District of Columbia Release of Judgment Lien — Overview: The District of Columbia Release of Judgment Lien is primarily governed by the laws outlined in the District of Columbia Code. When a debtor fails to repay a court-ordered judgment debt, the creditor may secure the debt by filing a judgment lien against the debtor's property. To release such a lien, the debtor must go through the designated legal process, involving specific requirements and steps. 2. The Types of District of Columbia Release of Judgment Lien: a. Voluntary Release: A voluntary release occurs when the debtor pays off the judgment debt in full or negotiates a settlement with the creditor. To achieve this release, the debtor must submit the required payment and file a Motion for Voluntary Release with the District of Columbia Court. This process is typically the most straightforward way to release the judgment lien. b. Satisfaction Order: In cases where the judgment debt has been paid off, but the creditor fails to execute a voluntary release, the debtor can request a Satisfaction Order. It entails filing a motion with the court, accompanied by evidence of payment, to obtain an official court order releasing the judgment lien. c. Release by Expiration: District of Columbia law specifies a limited duration for judgment liens, typically 12 years from the date of filing. Once this period elapses, the judgment lien automatically expires and becomes unenforceable. Debtors may obtain a Release of Judgment Lien by filing a Request to Expire Judgment Lien with the court, providing evidence of the expiration. d. Release by Bond: Under certain circumstances, a debtor may opt for a Release by Bond, which involves posting a security bond that covers the total amount of the judgment debt. This approach provides an alternative way to release the judgment lien while ensuring the creditor's rights are preserved. Conclusion: The District of Columbia Release of Judgment Lien process is crucial for debtors seeking relief from judgment liens. Various types, such as voluntary release, satisfaction order, release by expiration, and release by bond, provide different avenues for debtors to regain control over their properties. By understanding the intricacies of these release methods, debtors can navigate this legal process effectively, freeing their assets from judgment liens and securing financial stability.

Title: District of Columbia Release of Judgment Lien: Understanding the Process and Types Introduction: The District of Columbia Release of Judgment Lien is a legal process that allows a creditor to remove or release a judgment lien placed on a property. This essential procedure provides relief to debtors by eliminating restraints on the property's title, enabling them to regain control over their assets. In this article, we will delve into the intricacies of the District of Columbia Release of Judgment Lien process and explore any additional types that may exist. 1. District of Columbia Release of Judgment Lien — Overview: The District of Columbia Release of Judgment Lien is primarily governed by the laws outlined in the District of Columbia Code. When a debtor fails to repay a court-ordered judgment debt, the creditor may secure the debt by filing a judgment lien against the debtor's property. To release such a lien, the debtor must go through the designated legal process, involving specific requirements and steps. 2. The Types of District of Columbia Release of Judgment Lien: a. Voluntary Release: A voluntary release occurs when the debtor pays off the judgment debt in full or negotiates a settlement with the creditor. To achieve this release, the debtor must submit the required payment and file a Motion for Voluntary Release with the District of Columbia Court. This process is typically the most straightforward way to release the judgment lien. b. Satisfaction Order: In cases where the judgment debt has been paid off, but the creditor fails to execute a voluntary release, the debtor can request a Satisfaction Order. It entails filing a motion with the court, accompanied by evidence of payment, to obtain an official court order releasing the judgment lien. c. Release by Expiration: District of Columbia law specifies a limited duration for judgment liens, typically 12 years from the date of filing. Once this period elapses, the judgment lien automatically expires and becomes unenforceable. Debtors may obtain a Release of Judgment Lien by filing a Request to Expire Judgment Lien with the court, providing evidence of the expiration. d. Release by Bond: Under certain circumstances, a debtor may opt for a Release by Bond, which involves posting a security bond that covers the total amount of the judgment debt. This approach provides an alternative way to release the judgment lien while ensuring the creditor's rights are preserved. Conclusion: The District of Columbia Release of Judgment Lien process is crucial for debtors seeking relief from judgment liens. Various types, such as voluntary release, satisfaction order, release by expiration, and release by bond, provide different avenues for debtors to regain control over their properties. By understanding the intricacies of these release methods, debtors can navigate this legal process effectively, freeing their assets from judgment liens and securing financial stability.