Michigan Release of Judgment Lien

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-1110
• Format: Word; Rich Text

Description

If an owner of an interest in real property has had a judgment obtained against him or her, this form addresses a release of that judgment lien. A Michigan Release of Judgment Lien is a legal document that signifies the satisfaction or removal of a previously filed judgment lien on a property. These liens are typically filed by creditors or individuals who have obtained a judgment against a debtor and want to secure their claim on the debtor's property. Once the judgment has been paid off or settled, the creditor may file a Release of Judgment Lien to relinquish their interest in the property and clear the title. In Michigan, there are two primary types of Release of Judgment Lien: Voluntary Releases and Court-Ordered Releases. 1. Voluntary Releases: When a debtor fulfills their judgment obligation, the creditor may voluntarily release the judgment lien by filing a Voluntary Release of Judgment Lien with the appropriate county clerk's office. This document is also utilized when the debtor and creditor reach a settlement or make alternative arrangements to satisfy the judgment. 2. Court-Ordered Releases: In some cases, a Michigan court may order the release of a judgment lien due to specific circumstances. This can occur if the judgment is determined to be satisfied through a related lawsuit, bankruptcy proceedings, or any other legally significant event. The court will issue an order requiring the judgment creditor to release the lien, and this order shall be recorded with the county clerk. The Michigan Release of Judgment Lien provides the necessary legal steps to clear the title of a property and remove any encumbrances caused by a previously filed judgment lien. It is crucial to file the appropriate release documents to ensure the property's marketability and free and clear ownership rights. To obtain a Release of Judgment Lien in Michigan, the creditor or their legal representative must provide a detailed description of the judgment, including the case number, debtor's information, as well as the amount owed and any interest accrued. The creditor should also attach evidence of the judgment's satisfaction, such as payment receipts or a copy of the court's order requiring the release. Navigating the Michigan Release of Judgment Lien process requires careful attention to detail and adherence to the applicable statutes and procedural requirements. Seeking legal advice or assistance from an attorney specializing in real estate or debt collection matters is advisable to ensure a smooth and accurate release of the lien.

A Michigan Release of Judgment Lien is a legal document that signifies the satisfaction or removal of a previously filed judgment lien on a property. These liens are typically filed by creditors or individuals who have obtained a judgment against a debtor and want to secure their claim on the debtor's property. Once the judgment has been paid off or settled, the creditor may file a Release of Judgment Lien to relinquish their interest in the property and clear the title. In Michigan, there are two primary types of Release of Judgment Lien: Voluntary Releases and Court-Ordered Releases. 1. Voluntary Releases: When a debtor fulfills their judgment obligation, the creditor may voluntarily release the judgment lien by filing a Voluntary Release of Judgment Lien with the appropriate county clerk's office. This document is also utilized when the debtor and creditor reach a settlement or make alternative arrangements to satisfy the judgment. 2. Court-Ordered Releases: In some cases, a Michigan court may order the release of a judgment lien due to specific circumstances. This can occur if the judgment is determined to be satisfied through a related lawsuit, bankruptcy proceedings, or any other legally significant event. The court will issue an order requiring the judgment creditor to release the lien, and this order shall be recorded with the county clerk. The Michigan Release of Judgment Lien provides the necessary legal steps to clear the title of a property and remove any encumbrances caused by a previously filed judgment lien. It is crucial to file the appropriate release documents to ensure the property's marketability and free and clear ownership rights. To obtain a Release of Judgment Lien in Michigan, the creditor or their legal representative must provide a detailed description of the judgment, including the case number, debtor's information, as well as the amount owed and any interest accrued. The creditor should also attach evidence of the judgment's satisfaction, such as payment receipts or a copy of the court's order requiring the release. Navigating the Michigan Release of Judgment Lien process requires careful attention to detail and adherence to the applicable statutes and procedural requirements. Seeking legal advice or assistance from an attorney specializing in real estate or debt collection matters is advisable to ensure a smooth and accurate release of the lien.