This is a form of a Partial Release of Judgment Lien.
A Colorado Partial Release of Judgment Lien refers to a legal document that releases a portion of a judgment lien on a property in Colorado. This partial release is typically granted when a debtor pays off a portion of the outstanding debt associated with the judgment lien, allowing them to remove the lien on a specific portion of the property while the lien remains on the remaining portion. In Colorado, there are various types of partial releases of judgment liens that can be pursued, depending on the specific circumstances and agreements between the debtor and the creditor. Some common types include: 1. Partial Release of Judgment Lien by Payment: This type of release is granted when the debtor makes a partial payment towards the judgment debt, resulting in the creditor releasing the lien on a corresponding portion of the property. 2. Partial Release of Judgment Lien by Agreement: In certain cases, the debtor may negotiate an agreement with the creditor to release a portion of the judgment lien upon meeting certain conditions, such as paying a lump sum or fulfilling specific obligations. 3. Partial Release of Judgment Lien by Sale: When a property subject to a judgment lien is sold, a partial release may be obtained by the debtor by paying off a portion of the debt using proceeds from the sale, allowing the lien to be removed from the property. 4. Partial Release of Judgment Lien for Improvement or Construction: If a debtor intends to make improvements or construct a building on the property subject to the lien, they may request a partial release to facilitate financing for the project. Upon fulfilling the necessary requirements, the lien can be partially released to accommodate the planned development. 5. Partial Release of Judgment Lien by Consent: In some instances, the creditor may willingly agree to release a portion of the lien as a result of negotiations or other arrangements made between the parties involved. It is important to note that the specific requirements and processes for obtaining a Colorado Partial Release of Judgment Lien may vary depending on the county and court where the judgment was issued. Consulting with an experienced attorney specializing in debt and property law is recommended to ensure compliance with relevant regulations and to execute the release accurately.
