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.
A Maine Release of Judgment Lien on Properties and Assets of Defendant refers to the legal process where a judgment lien, previously placed on a defendant's properties and assets, is removed or released. This release is typically granted when the defendant fulfills their obligation as required by the court or when the judgment lien expires. In Maine, there are two main types of releases of judgment liens on properties and assets of defendants: 1. Voluntary Release: A voluntary release occurs when the defendant actively takes steps to satisfy their judgment debt. This could involve paying the full amount owed or entering into a negotiated settlement with the judgment creditor. Once the satisfaction is confirmed and the necessary documentation is provided to the court, the judgment lien is voluntarily released. 2. Judicial Release: A judicial release, often used when the judgment has been fully satisfied or the judgment liens have expired, requires the involvements of the court. The defendant or their representative must file a motion with the court, providing evidence of satisfaction or expiration of the lien, along with supporting documents. If the court is satisfied with the evidence presented, it will order the release of the judgment lien, effectively clearing the defendant's properties and assets. Keywords: Maine, Release of Judgment Lien, Properties, Assets, Defendant, Voluntary Release, Judicial Release, Satisfaction, Settlement, Court Order, Documentation. Disclaimer: This information is intended for general purposes only and should not be considered legal advice. It is always advisable to consult with a qualified attorney or legal professional for specific guidance regarding your situation.
