This is a form of a Partial Release of Judgment Lien.
A New Hampshire Partial Release of Judgment Lien is a legal document that allows for the partial release of a previously placed judgment lien on a property. This release provides the property owner with the opportunity to regain ownership rights to a portion of the property previously encumbered by the lien. When a judgment is rendered in favor of a creditor, they may place a lien on the debtor's property in order to secure payment or settlement of the debt. However, in certain circumstances, the property owner may wish to sell or refinance the property but is unable to do so due to the presence of the judgment lien. In such cases, a partial release of the judgment lien can be requested and granted by the court to free up a specific portion of the property. New Hampshire recognizes different types of partial releases of judgment liens which include: 1. Partial Release of Judgment Lien for a Specific Percentage: This type of release allows the property owner to regain ownership rights of a stated percentage of the property that was previously encumbered. For example, if a property was fully encumbered by a judgment lien, a partial release for 50% of the property's value would restore half of the property's ownership rights to the owner. 2. Partial Release of Judgment Lien for Specific Tracts or Parcels: In some cases, a property may consist of multiple tracts or parcels. The property owner can request a partial release of the judgment lien on specific tracts or parcels, allowing them to regain ownership rights to these specific portions while still maintaining the lien on the remaining parts. 3. Partial Release of Judgment Lien for Specific Amount of Debt: In situations where the judgment debt has been partially paid, the property owner can seek a partial release of the lien based on the amount of debt that has been cleared. For instance, if a property owner has paid off 25% of the outstanding debt, they can request a partial release of the judgment lien for that portion. It is important to note that a New Hampshire Partial Release of Judgment Lien must be obtained through a formal legal process, typically involving the filing of a petition with the court. The court will review the merits of the request, ensuring that it is justified and does not unduly prejudice the creditor's rights. Once granted, the partial release of the judgment lien will be recorded with the appropriate land records office, thus notifying future potential buyers or lenders about the modified lien status of the property. In summary, a New Hampshire Partial Release of Judgment Lien is a valuable legal measure that allows property owners to regain ownership rights to a fraction of their property previously encumbered by a judgment lien. By having different types of partial releases available, the court offers flexibility in addressing the specific needs and circumstances of property owners seeking relief from these encumbrances.
A New Hampshire Partial Release of Judgment Lien is a legal document that allows for the partial release of a previously placed judgment lien on a property. This release provides the property owner with the opportunity to regain ownership rights to a portion of the property previously encumbered by the lien. When a judgment is rendered in favor of a creditor, they may place a lien on the debtor's property in order to secure payment or settlement of the debt. However, in certain circumstances, the property owner may wish to sell or refinance the property but is unable to do so due to the presence of the judgment lien. In such cases, a partial release of the judgment lien can be requested and granted by the court to free up a specific portion of the property. New Hampshire recognizes different types of partial releases of judgment liens which include: 1. Partial Release of Judgment Lien for a Specific Percentage: This type of release allows the property owner to regain ownership rights of a stated percentage of the property that was previously encumbered. For example, if a property was fully encumbered by a judgment lien, a partial release for 50% of the property's value would restore half of the property's ownership rights to the owner. 2. Partial Release of Judgment Lien for Specific Tracts or Parcels: In some cases, a property may consist of multiple tracts or parcels. The property owner can request a partial release of the judgment lien on specific tracts or parcels, allowing them to regain ownership rights to these specific portions while still maintaining the lien on the remaining parts. 3. Partial Release of Judgment Lien for Specific Amount of Debt: In situations where the judgment debt has been partially paid, the property owner can seek a partial release of the lien based on the amount of debt that has been cleared. For instance, if a property owner has paid off 25% of the outstanding debt, they can request a partial release of the judgment lien for that portion. It is important to note that a New Hampshire Partial Release of Judgment Lien must be obtained through a formal legal process, typically involving the filing of a petition with the court. The court will review the merits of the request, ensuring that it is justified and does not unduly prejudice the creditor's rights. Once granted, the partial release of the judgment lien will be recorded with the appropriate land records office, thus notifying future potential buyers or lenders about the modified lien status of the property. In summary, a New Hampshire Partial Release of Judgment Lien is a valuable legal measure that allows property owners to regain ownership rights to a fraction of their property previously encumbered by a judgment lien. By having different types of partial releases available, the court offers flexibility in addressing the specific needs and circumstances of property owners seeking relief from these encumbrances.
