A Rhode Island Release of Judgment Lien — By Creditor is a legal document used by a creditor to release a judgment lien placed on a debtor's property in Rhode Island. When a creditor obtains a judgment against a debtor in a court of law, they may place a judgment lien on the debtor's property to secure the repayment of the debt. However, if the debtor fulfills their financial obligations and pays off the judgment, the creditor must release the lien to clear the title of the property. In Rhode Island, there are two main types of Release of Judgment Lien — By Creditor: 1. Voluntary Release of Judgment Lien: This type of release occurs when the creditor voluntarily releases the judgment lien without any legal action from the debtor. The creditor may choose to release the lien if the debt has been repaid in full, or if the debtor has entered into a settlement agreement or negotiated a payment plan that satisfies the debt. 2. Compulsory Release of Judgment Lien: In some cases, the debtor may need to take legal action to compel the creditor to release the judgment lien. This type of release is initiated by the debtor by filing a motion with the court requesting the release of the judgment lien. The court will review the debtor's request and may issue an order for the release of the lien if it determines that the debt has been satisfied or if there are other valid grounds for the release. When drafting a Rhode Island Release of Judgment Lien — By Creditor, it is crucial to include several essential details. These may include the names and addresses of both the creditor and debtor, the date the judgment was entered, the court where the judgment was obtained, the docket or case number, the legal description of the property subject to the lien, and a statement indicating that the debt has been fully satisfied or that the creditor is voluntarily releasing the lien. The use of relevant keywords in this context could include: Rhode Island, Release of Judgment Lien, Creditor, Voluntary Release, Compulsory Release, Debtor, Property, Repayment, Court, Settlement Agreement, Payment Plan, Motion, Order, Satisfaction.
Rhode Island Release of Judgment Lien - By Creditor
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How to fill out Rhode Island Release Of Judgment Lien - By Creditor?
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