This is a form of a Partial Release of Judgment Lien.
A Clark Nevada Partial Release of Judgment Lien refers to a legal document that releases a portion of a judgment lien placed on real property in Clark County, Nevada. A judgment lien is created when a creditor obtains a court-ordered judgment against a debtor and then attaches the judgment to the debtor's property as a way to secure the debt. A partial release of judgment lien occurs when the creditor and debtor agree to release a specific portion of the lien, usually by accepting a partial payment or settlement amount. This allows the debtor to sell, refinance, or transfer ownership of the property, as the released portion is no longer encumbered by the lien. However, the remaining portion of the judgment lien continues to hold a claim on the property until it is paid in full. The Clark Nevada Partial Release of Judgment Lien serves as evidence and documentation that a portion of the judgment lien has been released. It typically includes details such as the names and contact information of the creditor and debtor, the original judgment case number, the property description, the amount of the original judgment, and the specific amount or percentage of the lien being released. There are no specific types of Clark Nevada Partial Release of Judgment Lien as the concept remains the same regardless of the circumstances. However, there may be variations in the terms and conditions agreed upon by the parties involved, such as the amount of the release, the method of payment, or any other negotiated terms. In summary, a Clark Nevada Partial Release of Judgment Lien is a legal document that indicates the release of a specific portion of a judgment lien on real property in Clark County, Nevada. It is important for both creditors and debtors to understand their rights and obligations when considering such releases to ensure proper documentation and compliance with relevant laws.
