Illinois Memorandum OF JUDGMENT (Example) is an official document that is issued by the court when a judgment is rendered in a civil lawsuit in the state of Illinois. It is a written record of the amount of money that is owed from one party to another and the action that the court has taken in order to enforce the judgment. It is typically used in situations where the debtor has failed to comply with a court order, such as when they have failed to make payments on a debt. There are two types of Illinois Memorandum OF JUDGMENT (Example): the Satisfaction of Judgment and the Non-Satisfaction of Judgment. The Satisfaction of Judgment is issued when the debtor has made payments in full of the amount owed. The Non-Satisfaction of Judgment is issued when the debtor has failed to pay the full amount of the judgment and the court has taken steps to enforce the judgment.
Illinois MEMORaNDUM OF JUDGMENT (EXaMPLE)
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How to fill out Illinois MEMORaNDUM OF JUDGMENT (EXaMPLE)?
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FAQ
Illinois law governs the enforcement and resurrection of judgments. Under Illinois law, judgments have an enforcement time limit of seven years from the date of their entry.
The term "memorandum" as used in this Section means a memorandum or copy of the judgment signed by a judge or a copy attested by the clerk of the court entering it and showing the court in which entered, date, amount, number of the case in which it was entered, name of the party in whose favor and name and last known
Memorandum of judgment is a brief summary or outline of a judgment which specifies the name of the court that entered the judgment, date, amount, name of the party in whose favor and name of the party against whom entered.
A court judgment must be recorded with the Recorder of Deeds in the county where the property is located in Illinois before it can be enforced. Even if the property is situated in the same county as the judgment, the creditor must record the judgment.
Memorandum of judgment is a brief summary or outline of a judgment which specifies the name of the court that entered the judgment, date, amount, name of the party in whose favor and name of the party against whom entered.
In short, the statute provides that by filing an authenticated copy of the judgment (i.e. a certified copy of the judgment from the state it was entered in) with an affidavit, a notice of filing, and a cover sheet, a foreign judgment will become an Illinois judgment that can be enforced in Illinois.
Illinois law governs the enforcement and resurrection of judgments. Under Illinois law, judgments have an enforcement time limit of seven years from the date of their entry.
You do this by filing a record of the judgment with the recorder of deeds in your county. This creates the lien, which applies to all property owned by the judgment debtor in that county. The document you file is called a Memorandum of Judgment.