A King Washington Partial Release of Judgment Lien is a legal document typically associated with real estate that allows for the partial release of a judgment lien placed on a property by a creditor. This release is granted when the creditor receives payment for a portion of the outstanding debt owed to them, and the lien is lifted for the corresponding amount. In the context of judgment liens, King Washington refers to the jurisdiction or state in which this legal process takes place. It signifies that the release is being processed according to the specific laws and regulations applicable in the state of Washington. Depending on the circumstances and agreements made between the creditor and debtor, there may be different types of King Washington Partial Release of Judgment Lien. These types can include: 1. Short partial release of judgment lien: — This type of release occurs when a partial payment is made towards the debt owed, resulting in the creditor agreeing to lift the lien for the corresponding amount. However, a portion of the judgment lien remains in effect until the full payment is made. 2. Lump-sum partial release of judgment lien: — In some cases, the debtor may negotiate with the creditor to make a one-time partial payment that is agreed to be a final settlement. This leads to the lifting of the judgment lien for the specified amount, and no further obligations exist. 3. Installment partial release of judgment lien: — When the debtor cannot afford to pay the full outstanding debt in one go, an installment agreement may be arranged. This type of partial release allows for gradual payments over an agreed-upon period, with the lien being reduced with each installment paid until the full amount is settled. 4. Specific property partial release of judgment lien: — In certain instances, the creditor may agree to release the lien on a specific property rather than reducing the lien amount. This can occur when the debtor possesses multiple properties, and the payment made is allocated only to one particular property's debt. This results in the lien being partially released solely for that property. It is essential to consult with an attorney or legal expert familiar with the specific laws and regulations in King Washington regarding judgment liens to gain a comprehensive understanding of the process and the available options for a partial release.
King Washington Partial Release of Judgment Lien
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How to fill out King Washington Partial Release Of Judgment Lien?
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