Maryland Release of Judgment Lien — Full Release: A Maryland Release of Judgment Lien — Full Release is a legal document that serves to eliminate a judgment lien on a property or asset. When a creditor obtains a judgment against a debtor, they may file a lien against the debtor's property, which gives the creditor the right to collect their debt from the proceeds if the property is sold. However, once the debt has been satisfied, the judgment lien can be released through a full release. In Maryland, there are two types of Release of Judgment Lien — Full Release: 1. Voluntary Release: This type of release occurs when the creditor voluntarily agrees to release the judgment lien after the debt has been paid in full or settled. The creditor signs the release document, acknowledging the satisfaction of the debt and agreeing to remove the lien from the property. 2. Court-Ordered Release: In some cases, the debtor may need to seek a court order to obtain a release of the judgment lien. This may happen when the creditor refuses to release the lien even after the debt has been paid or settled. The debtor would file a motion with the court, providing evidence of the debt satisfaction, and request the court to issue an order releasing the judgment lien. The Maryland Release of Judgment Lien — Full Release document typically includes the following information: 1. Parties: The document identifies the creditor (or the creditor's representative) and the debtor. 2. Property Description: The document specifies the property or asset on which the judgment lien has been placed. 3. Debt Satisfaction: The document states that the judgment debt has been paid in full or resolved through settlement and provides details of the payment or agreement. 4. Lien Release: The document contains a clear statement that the creditor releases and discharges the judgment lien from the property or asset. 5. Legal Validity: The document includes a statement stating that the release is legally binding and enforceable. 6. Signatures: The document requires the signatures of both the creditor and debtor, along with the date of execution. It is essential to have a properly executed and recorded Release of Judgment Lien — Full Release to ensure that the judgment lien is removed and the debtor's property is free from encumbrances.
Maryland Release of Judgment Lien - Full Release
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