Illinois Abstract of Judgment is a legal document that serves as evidence of a judgment decreed by a court in Illinois. It acts as a lien on property owned by the judgment debtor and serves to protect the rights of the judgment creditor. The Abstract of Judgment contains detailed information about the judgment, including the parties involved, the amount of money owed, the date of the judgment, and any interest or costs associated with it. It provides a clear record of the judgment and its enforceability. There are two distinct types of Illinois Abstract of Judgment: 1. Voluntary Abstract of Judgment: This type of abstract is voluntarily filed by the judgment creditor with the county recorder's office in the county where the debtor's real estate is located. By doing so, the creditor secures a lien on the debtor's real property, which prevents the debtor from selling or transferring ownership without satisfying the debt. 2. Transferred and Registered Abstract of Judgment: This type of abstract is issued when a judgment creditor transfers the judgment to a new county. The creditor must register the judgment with the county recorder's office in the new county to maintain the lien on the debtor's real estate, ensuring continued protection of their rights. Keywords: Illinois Abstract of Judgment, legal document, judgment decreed, court, lien, property, judgment creditor, judgment debtor, judgment amount, interest, costs, enforceability, voluntary abstract, transferred abstract, county recorder's office, real estate, lien on property, judgment lien.
Illinois Abstract of Judgment
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How to fill out Illinois Abstract Of Judgment?
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