Arkansas Partial Release of Judgment Lien

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Multi-State
Control #:
US-OG-543
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This is a form of a Partial Release of Judgment Lien.

The Arkansas Partial Release of Judgment Lien refers to a legal instrument used to release a portion of a judgment lien placed on a debtor's property. This partial release allows the debtor to regain ownership or sell the property while still maintaining a valid judgment lien on the remaining portion. In Arkansas, there are two main types of partial release of judgment liens: 1. Partial Release of Judgment Lien — Sale or Transfer: This type of partial release is used when the debtor intends to sell or transfer ownership of the property. By obtaining a partial release, the debtor can clear title on the released portion, enabling a smooth and legal transfer to the new owner. However, it's important to note that the original judgment lien will still remain in effect on the remaining portion of the property. 2. Partial Release of Judgment Lien — Satisfaction of Debt: When a debtor pays off a portion of the judgment amount, they can request a partial release of judgment lien to reflect the satisfaction of that specific portion. This release demonstrates that the debtor has fulfilled their obligation for that particular part of the judgment, while the lien will continue to exist on the unpaid portion. Obtaining a partial release of a judgment lien in Arkansas requires filing the appropriate paperwork with the county where the judgment lien was recorded. This process typically involves completing a Release of Judgment Lien form, providing details about the original judgment and the portion to be released, and paying any associated fees. Keywords: Arkansas, Partial Release, Judgment Lien, legal instrument, property, debtor, ownership, sell, transfer, title, lien, satisfaction of debt, paperwork, county, recorded.

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FAQ

If you don't make your payments on that debt, the creditor may be able to take and sell the home or the property, during or after the bankruptcy case. There are several ways that you can keep collateral or mortgaged property after you file bankruptcy.

In most cases you will not lose your home or car during your bankruptcy case as long as your equity in the property is fully exempt. (see Arkansas bankruptcy exemptions) Even if your property is not fully exempt, you will be able to keep it, if you pay its non-exempt value to creditors in chapter 13.

A collection lawsuit submits the issue to a judge who decides whether you owe money to the creditor and, if so, the exact amount due. A judgment is the court's final decision as to the outcome of litigation. This signals the end of the case and provides the last word on liability.

A Judgment only lasts for 10 years unless, ing to the Arkansas Supreme Court, the creditor files a post-judgment writ, which then re-news the 10-year period. Traditionally, if a creditor wishes to re-new the original judgment, he must petition the court for a revival of the judgment.

If you have trouble collecting the money that the judge has found you are entitled to, there are two possible causes of action available to you: a writ of garnishment and a writ of execution. The writ of garnishment of wages will order an employer to take out a certain amount from the defendant's paycheck.

And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Arkansas, a judgment lien can be attached to real estate only (such as a house, condo, or land).

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If the lien on personal property covered by the judgment is being partially released, check box in item 4 and list the value of the lien remaining ... OFFICIAL RELEASE OF LIEN. OR. PERMISSION TO ISSUE A REPLACEMENT TITLE. PLEASE TYPE OR PRINT. To Whom It May Concern: This is to certify that the lien held by.Read on to find out the differences between a lien waiver and a lien release, a full and a partial release, and between a conditional and an unconditional lien ... Judgments are valid until satisfied or discharged; however, when a period of five years lapses, the judgment holder must file a motion with the court and prove ... A judgment lien is a court ruling giving a creditor the right to take possession of a debtor's property if the debtor doesn't fulfill their obligations. Mar 17, 2020 — Start with your legal issue to find the right lawyer for you. Choose an area of law that your issue relates to: Bankruptcy and debt · Business ... The partial release of the property from the lien of the judgment by the judgment creditor. The proper foreclosure of a prior lien. An execution sale and ... Download the file. When the Partial Release of Judgment Lien is downloaded you can complete, print out and sign it in almost any editor or by hand. Get ... (c) In an action on a mortgage or lien, the judgment may be rendered for the sale of the property and for the recovery of the debt against the defendant ... This Release is partial only and shall not operate to destroy in any manner the lien of said judgment on and against any and all other real estate not ...

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Arkansas Partial Release of Judgment Lien