North Carolina Release of Judgment Lien - Abstract of Judgment

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-1111
• Format: Word; Rich Text

Description

This form is a release of judgment lien for abstract of judgment. North Carolina Release of Judgment Lien — Abstract of Judgment is a legal document that serves to release a judgment lien placed on a property. It is commonly used when a debtor has satisfied the judgment against them, and the creditor agrees to remove the lien from the property. In North Carolina, there are two main types of Release of Judgment Lien — Abstract of Judgment: 1. Default Judgment Release: This type of release is used when the debtor fails to respond or appear in court, resulting in a default judgment being issued against them. Once the judgment is paid in full or otherwise satisfied, the creditor can file a Release of Judgment Lien — Abstract of Judgment to remove the lien from the debtor's property. 2. Voluntary Judgment Release: In cases where the debtor and creditor reach an agreement outside of court to settle the judgment, a voluntary release can be filed. This allows the creditor to release the judgment lien on the property once the agreed-upon terms of the settlement have been fulfilled. The process of obtaining a Release of Judgment Lien — Abstract of Judgment involves the following steps: 1. Payment of Judgment: The debtor must satisfy the judgment by making the required payment to the creditor or fulfilling any other agreed-upon terms. 2. Preparation of Release: Once the judgment is fully satisfied, the creditor or their attorney prepares the Release of Judgment Lien — Abstract of Judgment document. It includes details such as the case number, the names of the parties involved, the date the judgment was entered, and the amount paid to satisfy the judgment. 3. Filing the Release: The completed Release of Judgment Lien — Abstract of Judgment form is filed with the county clerk's office in the county where the judgment lien was originally recorded. The filing fee is typically required at this stage. 4. Official Recording: After filing, the clerk's office will officially record the Release of Judgment Lien — Abstract of Judgment in the public records. This ensures that the lien is removed from the property's title, indicating that the debt has been fully satisfied. It is important to note that the Release of Judgment Lien — Abstract of Judgment should be filed within a certain timeframe, as failure to do so may result in the lien remaining on the property even after the judgment is satisfied. Therefore, it is advisable for debtors and creditors to promptly complete the necessary steps to ensure the release is properly recorded. Overall, the North Carolina Release of Judgment Lien — Abstract of Judgment is a crucial document for individuals involved in judgments, providing an avenue to release liens on properties once the debts are fully satisfied.

North Carolina Release of Judgment Lien — Abstract of Judgment is a legal document that serves to release a judgment lien placed on a property. It is commonly used when a debtor has satisfied the judgment against them, and the creditor agrees to remove the lien from the property. In North Carolina, there are two main types of Release of Judgment Lien — Abstract of Judgment: 1. Default Judgment Release: This type of release is used when the debtor fails to respond or appear in court, resulting in a default judgment being issued against them. Once the judgment is paid in full or otherwise satisfied, the creditor can file a Release of Judgment Lien — Abstract of Judgment to remove the lien from the debtor's property. 2. Voluntary Judgment Release: In cases where the debtor and creditor reach an agreement outside of court to settle the judgment, a voluntary release can be filed. This allows the creditor to release the judgment lien on the property once the agreed-upon terms of the settlement have been fulfilled. The process of obtaining a Release of Judgment Lien — Abstract of Judgment involves the following steps: 1. Payment of Judgment: The debtor must satisfy the judgment by making the required payment to the creditor or fulfilling any other agreed-upon terms. 2. Preparation of Release: Once the judgment is fully satisfied, the creditor or their attorney prepares the Release of Judgment Lien — Abstract of Judgment document. It includes details such as the case number, the names of the parties involved, the date the judgment was entered, and the amount paid to satisfy the judgment. 3. Filing the Release: The completed Release of Judgment Lien — Abstract of Judgment form is filed with the county clerk's office in the county where the judgment lien was originally recorded. The filing fee is typically required at this stage. 4. Official Recording: After filing, the clerk's office will officially record the Release of Judgment Lien — Abstract of Judgment in the public records. This ensures that the lien is removed from the property's title, indicating that the debt has been fully satisfied. It is important to note that the Release of Judgment Lien — Abstract of Judgment should be filed within a certain timeframe, as failure to do so may result in the lien remaining on the property even after the judgment is satisfied. Therefore, it is advisable for debtors and creditors to promptly complete the necessary steps to ensure the release is properly recorded. Overall, the North Carolina Release of Judgment Lien — Abstract of Judgment is a crucial document for individuals involved in judgments, providing an avenue to release liens on properties once the debts are fully satisfied.