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.
Delaware Release of Judgment Lien refers to the legal process by which a judgment lien placed on a property or asset in Delaware is removed or released. A judgment lien is typically imposed when a court awards a monetary judgment against an individual or entity and creates a lien on their property to secure the debt. However, once the judgment has been satisfied, the creditor must file a Release of Judgment Lien to terminate the lien and release the property from its encumbrance. There are two primary types of Delaware Release of Judgment Lien: 1. Voluntary Release of Judgment Lien: This occurs when the judgment creditor willingly releases the judgment lien after receiving payment or satisfaction of the judgment debt. The creditor must file a voluntary release with the Delaware Superior Court or the appropriate county court where the judgment was entered. 2. Court-Ordered Release of Judgment Lien: In some cases, the judgment debtor may seek a court order to release the judgment lien. This can happen if there is evidence of payment, a settlement agreement, or any other valid reason which justifies the lien's removal. The debtor must file a motion with the court and provide supporting evidence to request the release. The Delaware Release of Judgment Lien process involves specific steps and requirements. First, the judgment debtor must gather all the necessary documentation, including proof of payment or any other valid justification for the lien's release. Then, the debtor or their attorney prepares the appropriate legal documents, such as a Release of Judgment Lien form, and files it with the court. The form typically includes details about the judgment, the parties involved, and the property affected. Once the form is submitted, the court reviews the request and, if satisfied with the evidence, may issue an order to release the judgment lien. This order is then recorded with the Delaware Superior Court or the relevant county court. It is crucial to ensure that the lien release is properly recorded to officially release the encumbrance on the property or asset. To simplify the Delaware Release of Judgment Lien process, it is advisable for individuals or entities involved in such matters to seek the guidance of an experienced attorney. Legal professionals well-versed in Delaware law can provide invaluable advice and assistance in navigating the specific requirements and intricacies of the release process.
