A Tennessee Partial Release of Judgment Lien occurs when a judgment creditor agrees to release a specific portion of their claim against a debtor's property. This is typically done when the debtor has entered into a satisfactory arrangement with the creditor to pay off a portion of the judgment debt. In Tennessee, there are two main types of Partial Release of Judgment Lien: Voluntary Partial Release and Court-Ordered Partial Release. 1. Voluntary Partial Release: This type of release occurs when the judgment creditor agrees, upon the debtor's request or negotiation, to release a specific portion of the judgment lien. This can happen when the debtor has made substantial payment towards the debt, and the creditor agrees to release a corresponding portion of the lien on the debtor's property. The voluntary partial release must be agreed upon and documented in writing by both parties. 2. Court-Ordered Partial Release: This type of release occurs when the debtor files a motion with the court, seeking the reduction or release of a portion of the judgment lien. The debtor must demonstrate valid reasons and provide supporting evidence for the court to consider granting the request. The court will evaluate the debtor's financial circumstances, payment history, and other relevant factors before deciding whether to order a partial release of the lien. If granted, the court will issue an order specifying the terms and conditions of the partial release. It's important to note that the partial release of the judgment lien does not eliminate the debt entirely. The remaining balance of the judgment lien remains enforceable against the debtor's property until fully paid off. Debtors seeking a Tennessee Partial Release of Judgment Lien should consult with an attorney familiar with the state's laws and procedures to properly navigate the legal process. It's also advisable for debtors to maintain accurate records of their payment history and any communication with the judgment creditor to support their request for a partial release.
A Tennessee Partial Release of Judgment Lien occurs when a judgment creditor agrees to release a specific portion of their claim against a debtor's property. This is typically done when the debtor has entered into a satisfactory arrangement with the creditor to pay off a portion of the judgment debt. In Tennessee, there are two main types of Partial Release of Judgment Lien: Voluntary Partial Release and Court-Ordered Partial Release. 1. Voluntary Partial Release: This type of release occurs when the judgment creditor agrees, upon the debtor's request or negotiation, to release a specific portion of the judgment lien. This can happen when the debtor has made substantial payment towards the debt, and the creditor agrees to release a corresponding portion of the lien on the debtor's property. The voluntary partial release must be agreed upon and documented in writing by both parties. 2. Court-Ordered Partial Release: This type of release occurs when the debtor files a motion with the court, seeking the reduction or release of a portion of the judgment lien. The debtor must demonstrate valid reasons and provide supporting evidence for the court to consider granting the request. The court will evaluate the debtor's financial circumstances, payment history, and other relevant factors before deciding whether to order a partial release of the lien. If granted, the court will issue an order specifying the terms and conditions of the partial release. It's important to note that the partial release of the judgment lien does not eliminate the debt entirely. The remaining balance of the judgment lien remains enforceable against the debtor's property until fully paid off. Debtors seeking a Tennessee Partial Release of Judgment Lien should consult with an attorney familiar with the state's laws and procedures to properly navigate the legal process. It's also advisable for debtors to maintain accurate records of their payment history and any communication with the judgment creditor to support their request for a partial release.
