A judgment lien is created when a court grants a creditor an interest in the debtor's property, based upon a court judgment. A plaintiff who obtains a monetary judgment is termed a "judgment creditor." The defendant becomes a "judgment debtor."
Judgment liens may be created through a wide variety of circumstances. Laws regarding judgment liens vary by jurisdiction, so local laws should be consulted.
Maryland Release of Judgment Lien on Properties and Assets of Defendant is a legal process that allows a judgment creditor to release a lien placed on a defendant's properties and assets. In Maryland, judgment liens can be enforced by attaching them to the debtor's real estate, personal property, bank accounts, and other valuable assets. There are different types of Maryland Release of Judgment Lien on Properties and Assets of Defendant, including: 1. Voluntary Release: This occurs when the debtor satisfies the judgment by paying the outstanding debt, interest, and any applicable fees. Upon receipt of the full payment, the judgment creditor files a release of the lien with the appropriate court or land records office, effectively removing the lien from the defendant's properties and assets. 2. Mutual Release: In some cases, the judgment creditor and the debtor may mutually agree to a settlement or payment plan. Once the agreed-upon terms are fulfilled, both parties sign a release of the judgment lien, clearing the defendant's properties and assets from the encumbrance. 3. Release for Lack of Enforcement: If the judgment creditor fails to enforce the judgment lien within a specific timeframe, usually three years in Maryland, the debtor can request a release of the lien based on the creditor's inaction. The debtor must file a motion with the court, providing evidence of the creditor's failure to take necessary actions to enforce the lien. 4. Release due to Bankruptcy Discharge: If the defendant files for bankruptcy and successfully receives a discharge, the judgment lien may be released. However, the creditor may have the option to file a motion to lift the automatic stay in bankruptcy court to continue pursuing the debt. 5. Release for Invalid Lien: If the judgment lien was improperly filed or contains erroneous information, the defendant may file a motion with the court to have the lien released. The court will review the evidence presented and, if deemed invalid, issue a release of the lien. In each of these cases, it is crucial for the judgment creditor or debtor to consult with an experienced attorney to ensure compliance with Maryland laws and procedures. The process for obtaining a release of judgment lien can vary depending on the circumstances, so seeking professional guidance is essential to navigate through the legal complexities.
