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.
A Wake North Carolina Release of Judgment Lien by Creditor is a legal document that releases a judgment lien placed on a debtor's property by a creditor. This document ensures that the debtor's property is no longer encumbered by the judgment lien, providing them with the freedom to sell or transfer the property without any legal hindrances. There may be different types of Wake North Carolina Release of Judgment Lien by Creditor, depending on the specific circumstances of the case or the type of lien being released. Some common types include: 1. Voluntary Release of Judgment Lien: This type of release occurs when the creditor voluntarily agrees to release the judgment lien. It often happens when the debt has been fully paid or when the creditor and debtor reach a settlement agreement. 2. Court-Ordered Release of Judgment Lien: In some cases, the debtor may request the court's intervention to release the judgment lien. This can happen when there has been an error in the judgment, the debt has been discharged in bankruptcy, or the judgment creditor fails to comply with legal requirements. 3. Partial Release of Judgment Lien: If the debtor has multiple properties encumbered by the judgment lien, the creditor may agree to release the lien on specific properties upon receiving a partial payment. This allows the debtor to retain ownership of certain properties while still owing the remaining debt. 4. Release of Judgment Lien by Subordination: Sometimes, a debtor may need to refinance or obtain a new loan secured by their property. In such cases, the existing judgment lien creditor may agree to subordinate their lien, allowing the new lender to have a higher priority lien on the property. This requires a release of the judgment lien by the creditor. When filing a Wake North Carolina Release of Judgment Lien by Creditor, it is important to provide accurate details about the judgment, including the case number, the names of parties involved, and the property details. Additionally, both the creditor and debtor must sign the document in the presence of a notary public to ensure its legal validity. Releasing a judgment lien can be a complex process, and it is crucial to consult with a knowledgeable attorney or legal professional to ensure compliance with Wake North Carolina laws and procedures.A Wake North Carolina Release of Judgment Lien by Creditor is a legal document that releases a judgment lien placed on a debtor's property by a creditor. This document ensures that the debtor's property is no longer encumbered by the judgment lien, providing them with the freedom to sell or transfer the property without any legal hindrances. There may be different types of Wake North Carolina Release of Judgment Lien by Creditor, depending on the specific circumstances of the case or the type of lien being released. Some common types include: 1. Voluntary Release of Judgment Lien: This type of release occurs when the creditor voluntarily agrees to release the judgment lien. It often happens when the debt has been fully paid or when the creditor and debtor reach a settlement agreement. 2. Court-Ordered Release of Judgment Lien: In some cases, the debtor may request the court's intervention to release the judgment lien. This can happen when there has been an error in the judgment, the debt has been discharged in bankruptcy, or the judgment creditor fails to comply with legal requirements. 3. Partial Release of Judgment Lien: If the debtor has multiple properties encumbered by the judgment lien, the creditor may agree to release the lien on specific properties upon receiving a partial payment. This allows the debtor to retain ownership of certain properties while still owing the remaining debt. 4. Release of Judgment Lien by Subordination: Sometimes, a debtor may need to refinance or obtain a new loan secured by their property. In such cases, the existing judgment lien creditor may agree to subordinate their lien, allowing the new lender to have a higher priority lien on the property. This requires a release of the judgment lien by the creditor. When filing a Wake North Carolina Release of Judgment Lien by Creditor, it is important to provide accurate details about the judgment, including the case number, the names of parties involved, and the property details. Additionally, both the creditor and debtor must sign the document in the presence of a notary public to ensure its legal validity. Releasing a judgment lien can be a complex process, and it is crucial to consult with a knowledgeable attorney or legal professional to ensure compliance with Wake North Carolina laws and procedures.
