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 Pennsylvania Release of Judgment Lien, also known as an Abstract of Judgment, is a legal document that serves to remove a judgment lien from real property. When a person or entity obtains a judgment against someone in Pennsylvania, they are granted a lien on that person's real property as a way to secure payment. However, judgment creditors may choose to release or remove the judgment lien in certain circumstances. By filing a Release of Judgment Lien, creditors acknowledge that the debt has been satisfied, settled, or otherwise resolved, and they no longer have a claim on the debtor's property. There are different types of Pennsylvania Release of Judgment Lien — Abstract of Judgment, depending on the specific situation: 1. Full Satisfaction: This type of release is filed when the judgment debtor has fully paid off the debt mentioned in the judgment. The judgment creditor acknowledges that their claim has been satisfied, and the lien is removed from the property. 2. Partial Satisfaction: When the judgment creditor receives a partial payment towards the outstanding debt, they may choose to file a Partial Satisfaction Release of Judgment Lien. This type of release acknowledges the reduction of the debt but does not completely remove the lien. 3. Release by Agreement: In some cases, the judgment creditor and debtor may come to an agreement to settle the debt outside the original court judgment. In such instances, a Release by Agreement is filed, stating that the judgment lien is released based on the terms of the settlement agreement. 4. Inaccurate Lien: If it is discovered that the judgment lien was mistakenly placed on the debtor's property, the judgment creditor can file an Inaccurate Lien Release. This rectifies the error and removes the lien from the property records. 5. Expiration of Lien: Judgment liens in Pennsylvania typically have a limited duration. If the statutory time limit for the judgment lien has expired, the judgment creditor can file an Expiration of Lien Release, indicating that the lien is no longer valid. It is important to note that the process and requirements for filing a Pennsylvania Release of Judgment Lien can vary depending on the county and court where the judgment was obtained. It is advisable for both judgment creditors and debtors to seek legal counsel to ensure proper compliance with the specific procedures in their jurisdiction.A Pennsylvania Release of Judgment Lien, also known as an Abstract of Judgment, is a legal document that serves to remove a judgment lien from real property. When a person or entity obtains a judgment against someone in Pennsylvania, they are granted a lien on that person's real property as a way to secure payment. However, judgment creditors may choose to release or remove the judgment lien in certain circumstances. By filing a Release of Judgment Lien, creditors acknowledge that the debt has been satisfied, settled, or otherwise resolved, and they no longer have a claim on the debtor's property. There are different types of Pennsylvania Release of Judgment Lien — Abstract of Judgment, depending on the specific situation: 1. Full Satisfaction: This type of release is filed when the judgment debtor has fully paid off the debt mentioned in the judgment. The judgment creditor acknowledges that their claim has been satisfied, and the lien is removed from the property. 2. Partial Satisfaction: When the judgment creditor receives a partial payment towards the outstanding debt, they may choose to file a Partial Satisfaction Release of Judgment Lien. This type of release acknowledges the reduction of the debt but does not completely remove the lien. 3. Release by Agreement: In some cases, the judgment creditor and debtor may come to an agreement to settle the debt outside the original court judgment. In such instances, a Release by Agreement is filed, stating that the judgment lien is released based on the terms of the settlement agreement. 4. Inaccurate Lien: If it is discovered that the judgment lien was mistakenly placed on the debtor's property, the judgment creditor can file an Inaccurate Lien Release. This rectifies the error and removes the lien from the property records. 5. Expiration of Lien: Judgment liens in Pennsylvania typically have a limited duration. If the statutory time limit for the judgment lien has expired, the judgment creditor can file an Expiration of Lien Release, indicating that the lien is no longer valid. It is important to note that the process and requirements for filing a Pennsylvania Release of Judgment Lien can vary depending on the county and court where the judgment was obtained. It is advisable for both judgment creditors and debtors to seek legal counsel to ensure proper compliance with the specific procedures in their jurisdiction.
