If an owner of an interest in real property has had a judgment obtained against the owner, this form addresses a release of that judgment lien.
A New Jersey Release of Judgment Lien refers to the legal process by which a judgment lien, which is a claim on a debtor's property due to an unpaid debt, is released or removed in the state of New Jersey. This process ensures that the debtor's assets are no longer encumbered by the judgment lien and can be freely transferred or sold. There are different types of New Jersey Release of Judgment Lien, including: 1. Voluntary Release: This occurs when the judgment creditor willingly releases the lien upon receiving payment of the debt or upon reaching a settlement agreement with the debtor. 2. Satisfaction of Judgment: This refers to the release of the judgment lien upon the complete satisfaction of the judgment by the debtor, typically through full payment of the outstanding debt, including any accrued interest and additional costs. 3. Expired Lien Release: In New Jersey, judgment liens automatically expire after 20 years from the date they were entered. When a judgment lien reaches its expiration date, it becomes necessary to release the lien officially to remove it from the debtor's property records. 4. Release by Court Order: In some cases, a court may order the release of a judgment lien, particularly if it is determined that the lien was improperly or unlawfully filed. This can happen if the judgment was vacated, reversed, or if the debtor successfully proves that the lien was based on false or fraudulent information. 5. Bankruptcy Discharge: If a debtor files for bankruptcy and obtains a discharge, all judgment liens against the debtor's property are typically released as part of the bankruptcy proceedings. This includes both pre-existing judgment liens and those that may have been obtained during the bankruptcy process. To initiate the New Jersey Release of Judgment Lien, the debtor or their legal representative must file the necessary paperwork with the appropriate county clerk's office where the judgment lien was originally recorded. The release document usually includes details such as the case number, the names of the creditor and debtor, the date of the judgment, and a statement confirming the lien's release. It is essential to promptly release a judgment lien in New Jersey to avoid any complications when attempting to sell or transfer the affected property. Once the lien release is recorded, the debtor is free from the encumbrance of the judgment lien, allowing them to regain full control over their property.A New Jersey Release of Judgment Lien refers to the legal process by which a judgment lien, which is a claim on a debtor's property due to an unpaid debt, is released or removed in the state of New Jersey. This process ensures that the debtor's assets are no longer encumbered by the judgment lien and can be freely transferred or sold. There are different types of New Jersey Release of Judgment Lien, including: 1. Voluntary Release: This occurs when the judgment creditor willingly releases the lien upon receiving payment of the debt or upon reaching a settlement agreement with the debtor. 2. Satisfaction of Judgment: This refers to the release of the judgment lien upon the complete satisfaction of the judgment by the debtor, typically through full payment of the outstanding debt, including any accrued interest and additional costs. 3. Expired Lien Release: In New Jersey, judgment liens automatically expire after 20 years from the date they were entered. When a judgment lien reaches its expiration date, it becomes necessary to release the lien officially to remove it from the debtor's property records. 4. Release by Court Order: In some cases, a court may order the release of a judgment lien, particularly if it is determined that the lien was improperly or unlawfully filed. This can happen if the judgment was vacated, reversed, or if the debtor successfully proves that the lien was based on false or fraudulent information. 5. Bankruptcy Discharge: If a debtor files for bankruptcy and obtains a discharge, all judgment liens against the debtor's property are typically released as part of the bankruptcy proceedings. This includes both pre-existing judgment liens and those that may have been obtained during the bankruptcy process. To initiate the New Jersey Release of Judgment Lien, the debtor or their legal representative must file the necessary paperwork with the appropriate county clerk's office where the judgment lien was originally recorded. The release document usually includes details such as the case number, the names of the creditor and debtor, the date of the judgment, and a statement confirming the lien's release. It is essential to promptly release a judgment lien in New Jersey to avoid any complications when attempting to sell or transfer the affected property. Once the lien release is recorded, the debtor is free from the encumbrance of the judgment lien, allowing them to regain full control over their property.
