This is a form of a Partial Release of Judgment Lien.
A Sacramento California Partial Release of Judgment Lien is a legal process that allows a creditor to release a portion of their claim on a debtor's property, based on a judgment lien previously placed on the property. This partial release can occur when the debtor satisfies a portion of the owed debt or by negotiating an agreement with the creditor. In Sacramento County, California, there are two primary types of Partial Release of Judgment Lien that individuals should be familiar with: 1. Voluntary Partial Release of Judgment Lien: This type of release occurs when the debtor and creditor mutually agree to release a specific portion of the judgment lien. It typically involves negotiations and payment arrangements between the parties, resulting in the release of a predetermined amount of the lien. This allows the debtor to gain more control over their property while still satisfying their debt obligations. 2. Statutory Partial Release of Judgment Lien: In certain circumstances, California law allows for the automatic partial release of a judgment lien. According to California Code of Civil Procedure Section 697.370, a creditor is required to release a portion of the lien if the debtor pays off a specific amount of the underlying judgment. The debtor must file a Motion for Partial Release of Judgment Lien with the court, providing evidence of payment or satisfaction of the debt, and the court will issue an order for the partial release. It is important to note that the release of a judgment lien does not eliminate the remaining debt entirely, but it allows the debtor to regain some control over their property or provide them with the opportunity to refinance or sell the property without the burden of the full lien. In conclusion, a Sacramento California Partial Release of Judgment Lien is a legal process that provides a debtor with the opportunity to release a portion of a judgment lien on their property, either through negotiation with the creditor or by meeting specific statutory requirements. This process can help individuals regain control over their property while still fulfilling their debt obligations.
