Wisconsin Release of Judgment Lien

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-1110
• Format: Word; Rich Text

Description

If an owner of an interest in real property has had a judgment obtained against him or her, this form addresses a release of that judgment lien. The Wisconsin Release of Judgment Lien is a legal document that serves to officially release and remove a judgment lien from a debtor's property in the state of Wisconsin. A judgment lien is a creditor's claim on a debtor's property as a result of a court judgment, usually related to an outstanding debt. The release of judgment lien is a crucial step in clearing a debtor's property title and restoring their financial freedom. By properly filing this document, debtors can regain control over their property and eliminate the restrictions imposed by the judgment lien. There are two main types of Wisconsin Release of Judgment Lien: 1. Voluntary Release of Judgment Lien: This type occurs when the creditor agrees to release the judgment lien willingly. It typically happens when the debtor fulfills their obligations, pays off the owed debt, or negotiates a settlement. The creditor issues a voluntary release of judgment lien, acknowledging the debt has been satisfied. This document must be filed with the appropriate county office, such as the county clerk or register of deeds, to remove the lien officially. 2. Release of Judgment Lien by Operation of Law: This type occurs when the judgment lien expires automatically after a certain period of time. In Wisconsin, a judgment lien can last for ten years and can be renewed for another ten years. However, if the debtor has not taken any action to renew the lien, it will eventually expire. In such cases, a Release of Judgment Lien by Operation of Law is necessary to remove the expired lien from the debtor's property title. This document must be filed with the proper county office to ensure the lien's elimination. Keywords: Wisconsin, Release of Judgment Lien, creditor, debtor, property, court judgment, outstanding debt, clear title, financial freedom, voluntary release, satisfaction, settlement, negotiate, county office, county clerk, register of deeds, expiration, operation of law, expired lien, property title.

The Wisconsin Release of Judgment Lien is a legal document that serves to officially release and remove a judgment lien from a debtor's property in the state of Wisconsin. A judgment lien is a creditor's claim on a debtor's property as a result of a court judgment, usually related to an outstanding debt. The release of judgment lien is a crucial step in clearing a debtor's property title and restoring their financial freedom. By properly filing this document, debtors can regain control over their property and eliminate the restrictions imposed by the judgment lien. There are two main types of Wisconsin Release of Judgment Lien: 1. Voluntary Release of Judgment Lien: This type occurs when the creditor agrees to release the judgment lien willingly. It typically happens when the debtor fulfills their obligations, pays off the owed debt, or negotiates a settlement. The creditor issues a voluntary release of judgment lien, acknowledging the debt has been satisfied. This document must be filed with the appropriate county office, such as the county clerk or register of deeds, to remove the lien officially. 2. Release of Judgment Lien by Operation of Law: This type occurs when the judgment lien expires automatically after a certain period of time. In Wisconsin, a judgment lien can last for ten years and can be renewed for another ten years. However, if the debtor has not taken any action to renew the lien, it will eventually expire. In such cases, a Release of Judgment Lien by Operation of Law is necessary to remove the expired lien from the debtor's property title. This document must be filed with the proper county office to ensure the lien's elimination. Keywords: Wisconsin, Release of Judgment Lien, creditor, debtor, property, court judgment, outstanding debt, clear title, financial freedom, voluntary release, satisfaction, settlement, negotiate, county office, county clerk, register of deeds, expiration, operation of law, expired lien, property title.