Iowa Release of Judgment Lien — Full Release is a legal document that effectively removes a judgment lien from a debtor's property. This release is crucial for individuals or businesses looking to clear their property from any encumbrances resulting from a judgment lien filed against them in Iowa. When a judgment lien is placed on a property, it serves as a claim against the property owner's assets to secure payment of a debt owed. Once a debtor satisfies the debt or has reached an agreement with the judgment creditor, executing a Full Release is necessary to officially release the lien and free the property from any legal obligations. The Iowa Release of Judgment Lien — Full Release document consists of various essential elements to ensure its validity and effectiveness. It requires accurate details, such as the names and addresses of both the judgment creditor and debtor, the court case number, and the date the judgment was entered. These specifics help in accurately identifying and referencing the original judgment lien. Additionally, the Full Release document should include a clear statement affirming the satisfaction of the judgment debt and the subsequent release of the lien. This statement must be signed by both the judgment creditor, acknowledging receipt of the payment, and the debtor, verifying that the release accurately represents the terms agreed upon. It is important to note that Iowa may have specific requirements or forms that must be used when executing a Full Release to adhere to state laws. Different variations of the Iowa Release of Judgment Lien — Full Release may exist, depending on the unique circumstances of the debt, negotiations, or legal requirements. Some possible variations could include: 1. Voluntary Release of Judgment Lien: This type of release is applicable when the judgment creditor voluntarily agrees to release the lien, often after receiving full payment or reaching a settlement with the debtor. 2. Mutual Release of Judgment Lien: In certain cases, both parties involved in a judgment lien may agree to release it simultaneously. A mutual release demonstrates a mutual resolution and satisfaction of the debt, ensuring both parties' interests are protected. 3. Court-Ordered Release of Judgment Lien: If a court intervenes in the settlement of a judgment lien, it may issue a court order mandating the release of the lien. This type of release ensures a legally binding resolution has occurred, requiring compliance from both the debtor and judgment creditor. It is crucial to consult with a legal professional or utilize appropriate Iowa-specific resources to ensure the proper execution of an Iowa Release of Judgment Lien — Full Release. Adherence to the specific requirements outlined by the state can facilitate the release process and successfully eliminate the encumbrance of a judgment lien from a debtor's property.
Iowa Release of Judgment Lien - Full Release
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How to fill out Iowa Release Of Judgment Lien - Full Release?
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624.37 Satisfaction of judgment ? penalty. If the motion relates to a lien of judgment as to specific property, the motion may be filed by a person with an interest in the property.
Tells the court and others that a judgment has been paid in full or in part. Can be recorded with a county to release a lien against the judgment debtor's land or filed with the Secretary of State to release a lien against the debtor's personal property.
Iowa Code § 614.1. Judgments are liens upon the real estate owned by the defendant for a period of ten years from the date of the judgment.
Iowa judgment liens are created automatically when a judgment is entered on a debtor's property in the county the judgment is entered. For property located outside of that area, the creditor will need to go to the county where the property is located and file the judgment with that county court.
Note: Failure to satisfy and release a judgment, when paid off or satisfied in full, could result in a penalty of $400.00 if not filed within 30 days of written request (Iowa Code section 624.37).
When the real estate lies in the county wherein the judgment of the district court of this state or of the circuit or district courts of the United States was entered in the judgment docket and lien index kept by the clerk of the court having jurisdiction, the lien shall attach from the date of such entry of judgment, ...
A claim of lien against real estate claimed as a homestead is barred unless execution is levied within thirty days of the time the defendant, the defendant's agent, or a person with an interest in the real estate has served written demand on the owner of the judgment.
