When a registered lien is satisfied, by payment or otherwise, the claimant shall acknowledge satisfaction by entry on the lien book; and if the claimant neglects or fails to do so for twenty (20) days after written demand, the claimant shall forfeit and pay to the owner or contractor the sum of fifty dollars ($50.00), and be liable to any person injured to the extent of the injury, which in no event shall be less than one hundred dollars ($100).
Tennessee Acknowledgment of Satisfaction for Corporation
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State:
Tennessee
Control #:
TN-07A-09
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Word;
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FAQ
Satisfaction by Levy A judgment creditor's obligation to give or file an acknowledgement of satisfaction arises only when the judgment creditor received the full amount required to satisfy the judgment from the levying officer.
Once a judgment is paid, whether in installments or a lump sum, a judgment creditor (the person who won the case) must acknowledge that the judgment has been paid by filing a Satisfaction of Judgment form with the court clerk.
A Satisfaction of Judgment is a document signed by one party acknowledge receipt of the payment. The Satisfaction of Judgment is then filed with the court. This is beneficial to the paying party for multiple reasons. One, the court is put on notice that the debt has been satisfied.
You may ask your judgment creditor to file a satisfaction of judgment form. The length of time gives to the creditor to file the form varies from state to state, but it is usually between 14 and 30 days after your request.
A document signed by the party who is owed money under a court judgment (called the judgment creditor) stating that the full amount due on the judgment has been paid.
A document signed by the party who is owed money under a court judgment (called the judgment creditor) stating that the full amount due on the judgment has been paid.
Satisfaction of judgment. n. a document signed by a judgment creditor (the party owed the money judgment) stating that the full amount due on the judgment has been paid.
A document signed by the party who is owed money under a court judgment (called the judgment creditor) stating that the full amount due on the judgment has been paid.
A Satisfaction of Judgment is basically an official receipt which says that you owed a certain amount, but that it has been paid, either partially or in full.