North Carolina 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. North Carolina Release of Judgment Lien: In North Carolina, a Release of Judgment Lien is a legal document that effectively terminates or releases a previously filed judgment lien on a debtor's property. This document is crucial for both creditors seeking to release their claim and debtors looking to clear their property titles. A Release of Judgment Lien ensures that the debtor no longer owes any outstanding debts associated with the judgment lien, allowing them to regain control over their property. The North Carolina General Statutes provide specific guidelines and procedures to follow when filing a Release of Judgment Lien. It is essential to understand the different types of releases available depending on the situation: 1. Voluntary Release: This type of release occurs when the judgment creditor willingly releases the judgment lien after the debtor has fulfilled their debt obligations. The creditor prepares the release document, which needs to be signed and notarized, and then recorded with the appropriate county office where the original lien was filed. 2. Satisfaction Release: A satisfaction release is used when the judgment creditor acknowledges that the debtor has satisfied the judgment debt. This release can be obtained when the debtor has made full payment or agreed to another form of settlement, such as a negotiated settlement amount or an agreed-upon payment plan. The creditor, again, prepares the release document, ensuring it is signed and notarized before being recorded with the county office. 3. Expiration Release: In North Carolina, judgment liens have a set expiration period of ten years. If the creditor fails to renew the judgment lien, it automatically expires after a decade. In such cases, an expiration release can be filed to formally terminate the expired judgment lien. The debtor can initiate this process by filing the release document with the county office and providing evidence of the expired lien. 4. Release by Order of Court: In certain circumstances, a court may order the release of judgment lien upon the debtor's successful motion. This could occur when the judgment was incorrectly entered, satisfied, or the debtor demonstrates a valid reason for the release. Once the court grants the order, the debtor will need to file the release document with the county office to ensure the lien's removal from public records. It is important to note that the specific requirements and procedures surrounding the Release of Judgment Lien in North Carolina may vary based on county regulations. Hence, it is highly recommended consulting with a qualified attorney or legal expert to ensure compliance with all necessary steps and documents for a successful release.

North Carolina Release of Judgment Lien: In North Carolina, a Release of Judgment Lien is a legal document that effectively terminates or releases a previously filed judgment lien on a debtor's property. This document is crucial for both creditors seeking to release their claim and debtors looking to clear their property titles. A Release of Judgment Lien ensures that the debtor no longer owes any outstanding debts associated with the judgment lien, allowing them to regain control over their property. The North Carolina General Statutes provide specific guidelines and procedures to follow when filing a Release of Judgment Lien. It is essential to understand the different types of releases available depending on the situation: 1. Voluntary Release: This type of release occurs when the judgment creditor willingly releases the judgment lien after the debtor has fulfilled their debt obligations. The creditor prepares the release document, which needs to be signed and notarized, and then recorded with the appropriate county office where the original lien was filed. 2. Satisfaction Release: A satisfaction release is used when the judgment creditor acknowledges that the debtor has satisfied the judgment debt. This release can be obtained when the debtor has made full payment or agreed to another form of settlement, such as a negotiated settlement amount or an agreed-upon payment plan. The creditor, again, prepares the release document, ensuring it is signed and notarized before being recorded with the county office. 3. Expiration Release: In North Carolina, judgment liens have a set expiration period of ten years. If the creditor fails to renew the judgment lien, it automatically expires after a decade. In such cases, an expiration release can be filed to formally terminate the expired judgment lien. The debtor can initiate this process by filing the release document with the county office and providing evidence of the expired lien. 4. Release by Order of Court: In certain circumstances, a court may order the release of judgment lien upon the debtor's successful motion. This could occur when the judgment was incorrectly entered, satisfied, or the debtor demonstrates a valid reason for the release. Once the court grants the order, the debtor will need to file the release document with the county office to ensure the lien's removal from public records. It is important to note that the specific requirements and procedures surrounding the Release of Judgment Lien in North Carolina may vary based on county regulations. Hence, it is highly recommended consulting with a qualified attorney or legal expert to ensure compliance with all necessary steps and documents for a successful release.