A Warrant of Satisfaction is a type of legal document that acts as a certificate or confirmation of payment. It is an instrument by which a debtor acknowledges the payment of a debt and releases any security held for the debt. It is usually used when a loan has been fully paid off. There are two types of Warrant of Satisfaction: a Partial Warrant of Satisfaction and a Full Warrant of Satisfaction. A Partial Warrant of Satisfaction is issued when only a portion of the debt has been paid off. A Full Warrant of Satisfaction is issued when all the debt has been paid off in full. When a Warrant of Satisfaction is issued, it is signed by the debtor and witnessed by two other individuals. The document is then filed with the relevant court or public records office and serves as proof of payment and release of any security.
Warrant of Satisfaction
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FAQ
If a judgment debtor has paid in full, settled, or otherwise complied with a judgment rendered in a magisterial district court, anyone interested in the judgment may request the entry of satisfaction of the judgment by filing a written request in the office of the magisterial district judge who rendered the judgment.
If you lose the lawsuit, a judgement is entered against you stating that you owe someone a certain amount of money. A copy will be given to you and the creditor. You usually have 30 days to appeal judgments. If you do not appeal, the creditor can pay a PA constable or sheriff money to try to collect the money from you.
A money judgment may be satisfied by (1) paying the full amount required to satisfy the judgment or (2) the judgment creditor's acceptance of a lesser sum in full satisfaction of the judgment. (Cal. Code Civ.
Where do I file a Warrant to satisfy a Judgement in NJ? File the Form The completed WOS and filing fee should be submitted to: Clerk of the Superior Court Clerk, P.O. Box 971, 25 Market Street, Trenton, New Jersey 08625.
A satisfaction of judgment is a document signed by a judgment creditor and generally filed with the court, indicating that a judgment has been paid in full.
Pennsylvania judgments are valid for 5 years. Judgments can be revived every 5 years and should be revived if a creditor is attempting to actively collect on the debt. Judgments also act as a lien against real property for up to 20 years or longer if properly revived.
What happens if a defendant does not pay a judgement? A creditor can enforce the judgement and use state laws to seize assets in the hands of the debtor or third parties to collect the amount owed.
The Satisfaction of Judgment form should be signed by the judgment creditor when the judgment is paid, and then filed with the court clerk. Don't forget to do this; otherwise, you may have to track down the other party later. It's easy to get a copy of a Satisfaction of Judgment form.
