Notice Of Satisfaction Definition In Washington

State:
Multi-State
Control #:
US-00191
Format:
Word; 
Rich Text
Instant download

Description

The Notice of Satisfaction in Washington signifies that all conditions outlined in an escrow agreement have been met, except for specific liens that will be addressed with payment. This document serves as a formal acknowledgment by the parties involved, specifically allowing the escrow agent to disburse funds in accordance with the escrow terms. Key features include sections for identifying the parties, details of the escrow agreement, and spaces for authorized signatures. To fill out the form, users must provide details such as the seller's information, the amount of funds, and information on any liens that require release. Attorneys, partners, owners, associates, paralegals, and legal assistants may find this form particularly useful when facilitating real estate transactions or handling financial agreements that involve escrow accounts. It streamlines communication and serves as a legal record that conditions have been fulfilled, thus protecting the interests of all parties involved. By using the Notice of Satisfaction, these professionals can ensure compliance with state requirements and assist clients in fulfilling their contractual obligations efficiently.
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FAQ

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The enforcement process is governed by state law and these laws vary by state. Some states require that a judgment be registered, others require the judgment creditor to file a new civil lawsuit for enforcement or obtain a writ of execution.

If they are not timely renewed, they expire. In CA that is 10 years. However, when a judgment lien has been recorded against your property, it has no expiration date. This means that it is possible to no longer have a judgment against you, but still have a judgment lien on your property.

A judgment lien in Washington will remain attached to the debtor's property (even if the property changes hands) for ten years.

In the state of Washington, a judgment lien will remain attached to a person's property for ten years.

Depending on the type of case, judgments are usually effective for 10 years from the date of entry, and can be renewed for an additional 10 years. Specific information is found in RCW Section 4.56. 210 and RCW Section 6.17. 020.

Satisfaction is the fulfillment of an obligation. The term is often used in the context of contract law when one performs their duties under the contract. The term is also often found in the context of judgments in determining whether a party discharged their liability from a judgment.

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Notice Of Satisfaction Definition In Washington