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.
Colorado Release of Judgment Lien - Abstract of Judgment
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Multi-State
Control #:
US-OG-538
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Word;
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How to fill out Release Of Judgment Lien - Abstract Of Judgment?
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FAQ
The purpose of an abstract of judgment is to create a public record and create a lien or claim if necessary on any real estate owned or later acquired by the loser located in the county in which the abstract of judgment is recorded.
Abstract of judgement refers to a copy or summary of a court's judgement. Some common uses of the term ?abstract of judgement? include: In the context of a civil case, abstract of judgement is a document disclosing a monetary award issued by the court in favor of a judgement creditor against a judgement debtor.
An abstract judgment in real estate is also called a property lien. It's a lien against any real property you own in a particular county. This is separate from any mortgage that you may have taken out on the property.
In Colorado, a judgment lien can be attached only to real estate, such as a house or land. To attach the lien, the creditor files the judgment with the county recorder where the debtor owns property. A judgment lien in Colorado is attached to property for six years.
To do this, fill out an EJ-001 Abstract of Judgment form and take it to the clerk's office. After the clerk stamps it, record it at the County Recorder's Office in the county where the property is located. Place a lien on a business.
Judgment is a court decision that settles a dispute between two parties by determining the rights and obligations of each party. Judgments are classified as in personam, in rem, or quasi in rem. Judgments are usually monetary, but can also be non-monetary, and are legally enforceable.
This judgment is of two kinds, namely, interlocutory or final. JUDGMENT IN REPLEVIN, is either for the plaintiff or defendant.