The Alabama Release of Judgment Lien — Full Release is a legal document used to officially release a judgment lien placed on a debtor's property in the state of Alabama. This document serves as proof that the judgment lien has been fully satisfied and the debtor's property is no longer encumbered by the judgment. This release is typically filed by the judgment creditor once the debtor has paid the outstanding debt in full or otherwise resolved the lien. By submitting this document to the appropriate county office, the creditor acknowledges that the debt has been settled and relinquishes any rights to the lien. In Alabama, there are several types of Release of Judgment Lien Releaseses dependingng onng ocircumstanceses FNG the lien release: 1. Voluntary Full Release: This type of release is filed when the debtor has voluntarily satisfied the judgment lien by paying the owed amount in full. The creditor willingly releases the lien and acknowledges that the debt has been fully repaid, allowing the debtor to regain full ownership of their property. 2. Compromised Full Release: Sometimes, the parties involved in a judgment lien dispute may reach a compromise or settlement agreement. In this case, a compromised full release is used to release the lien upon the debtor fulfilling the agreed-upon terms of the settlement. It is crucial to specify the terms of the compromise accurately to avoid any potential misunderstandings or future disputes. 3. Satisfaction and Full Release: If the judgment creditor receives payment from another party, such as a co-debtor or surety, to satisfy the debt, they must file a satisfaction and full release. This document acknowledges payment by the third party and releases the lien on the debtor's property, freeing them from any further obligations. 4. Extinguishment Full Release: In certain circumstances, a judgment lien can be extinguished or terminated without payment in full. This may occur if the judgment is determined to be invalid or unenforceable, or if the lien was mistakenly filed. An extinguishment full release is filed to release the lien and clear the cloud on the debtor's title. It is important to note that each type of Alabama Release of Judgment Lien — Full Release must comply with the state's specific legal requirements. The document must accurately identify the parties involved, provide details about the judgment lien and its satisfaction, and be signed by the judgment creditor or their authorized representative.
Alabama Release of Judgment Lien - Full Release
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How to fill out Alabama Release Of Judgment Lien - Full Release?
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Lien stripping is a powerful tool. It allows you to remove junior liens on your home (the second or third mortgage, HELOCs and home equity loans) if they are not secured by the value of the value of the home. You can use lien stripping in Chapter 13 bankruptcy in Alabama, as you can in other states. Lien Stripping in Alabama | Grainger Legal Services in Montgomery graingerlegal.com ? foreclosure-lawyer ? lie... graingerlegal.com ? foreclosure-lawyer ? lie...
The Alabama Release of Lien Form is used to cancel a lien that has already been filed. It's most often used to release a lien claim after a lien claimant receives payment. Alabama law requires that a lien cancellation is filed within 30 days after the lien is satisfied.
Once the lien has arisen, it will continue until the liability for the amount assessed is satisfied, released or becomes unenforceable by reason of lapse of time (i.e. 10 years from the date the lien is filed) (Code Sections 40-1-2, 40-29-20, and 49-29-21).
It will stay attached for 10 years, even if the property is transferred to someone else. At the end of that period, the judgment can be revived and a new lien created for another 10 years (or a total of 20 years from the date of the judgment). Judgment Liens | Montgomery, Alabama Bankruptcy Lawyers graingerlegal.com ? judgment-liens graingerlegal.com ? judgment-liens
Remove a Lien from Your AL Title Complete a lien release online. Gather your current vehicle title. Submit the above to the Motor Vehicle Division by mail at the address listed on the lien release application, or in person at your local office. Alabama Lien Release Form - Fill Online, Printable, Fillable ...
The Alabama Release of Lien Form is used to cancel a lien that has already been filed. It's most often used to release a lien claim after a lien claimant receives payment. Alabama law requires that a lien cancellation is filed within 30 days after the lien is satisfied. Alabama Release of Lien Form | Free Downloadable Template Levelset ? Lien Release Levelset ? Lien Release
Alabama law provides for two types of liens: an ?unpaid balance? and a ?full price? lien. An unpaid balance lien extends only to the amount of any unpaid balance due the contractor by the owner or proprietor. In contrast, a full-price lien allows the furnisher of materials to have a lien for the full price thereof.
Search the owner and property through the county recorder's property records to find applicable deeds, open mortgages, mortgage associated documents, judgments, liens, foreclosure cases, as well as any other documents that are relevent to the title.