If an owner of an interest in real property has had a judgment obtained against the owner, this form addresses a release of that judgment lien.
Description: In Arkansas, a Release of Judgment Lien refers to the legal process of removing or releasing a judgment lien placed on a property. A judgment lien is typically imposed when a creditor obtains a court judgment against a debtor, and the lien acts as security for the debt owed. However, once the debt has been satisfied, the judgment lien can be released through a formal procedure. When a judgment debtor fulfills their obligation and pays off the debt in full, they can request a Release of Judgment Lien in Arkansas. This release is crucial as it allows the debtor to regain full control of their property, free from any encumbrances created by the judgment lien. It essentially attests that the lien is no longer valid, and the debtor's property is released from any claim or attachment associated with the judgment. Different types of Release of Judgment Lien in Arkansas: 1. Voluntary Release of Judgment Lien: This type of release occurs when the judgment creditor voluntarily releases the lien. It can happen if the creditor is satisfied with the payment received or if an agreement has been reached between the debtor and creditor to release the lien. 2. Satisfaction of Judgment: When a judgment debtor pays the judgment debt in full, they can request a Satisfaction of Judgment from the court. This document serves as evidence that the judgment has been satisfied and can be used to release the judgment lien. 3. Certificate of Release: A Certificate of Release is issued by the court upon the judgment debtor's request, confirming that the judgment lien on the property has been released. This document is crucial for clearing the title and ensuring the property is free from any outstanding claims by the judgment creditor. It is important to note that the Release of Judgment Lien process in Arkansas may require specific forms to be completed, documentation to be submitted, and proper court filing. It is advisable for the judgment debtor to consult with an attorney or seek legal advice to ensure compliance with the required procedures and to protect their property rights. In summary, an Arkansas Release of Judgment Lien is the legal process to remove a judgment lien from a property once the debt has been fulfilled. It involves obtaining either a voluntary release of the lien, a satisfaction of judgment, or a certificate of release from the court. Proper adherence to the process ensures that the debtor's property is fully released from any claims or encumbrances associated with the judgment lien.
