This is a form of a Partial Release of Judgment Lien.
A Georgia Partial Release of Judgment Lien refers to a legal process where a portion of a judgment lien placed on a debtor's property is released by the creditor. This enables the debtor to regain ownership or transfer the released portion of their property, while the remaining lien continues to secure the outstanding debt. In Georgia, there are two main types of partial releases of judgment liens: a voluntary partial release and a court-ordered partial release. A voluntary partial release occurs when the creditor and debtor reach an agreement to release a specific portion of the property from the judgment lien. This can be done through negotiations, payment arrangements, or settlements. Once the voluntary partial release is executed and properly recorded, the debtor gains the ability to sell, refinance, or transfer the released portion of the property. On the other hand, a court-ordered partial release is initiated through a legal process. A debtor may file a motion with the court, requesting the release of a specific portion of their property from the judgment lien. This usually happens when the debtor can prove that the value of the remaining property is more than sufficient to secure the outstanding debt. If the court agrees with the debtor's claim, it will issue an order for the partial release, allowing the debtor to regain ownership or transfer the released portion of the property. It is important to note that a partial release of a judgment lien in Georgia does not completely remove the lien from the debtor's property. It only releases the lien on a specific portion of the property, while the remaining lien continues to exist and secure the unpaid debt. In summary, a Georgia Partial Release of Judgment Lien is a legal process that enables a debtor to release a specific portion of their property from a judgment lien. This can be achieved through a voluntary agreement between the creditor and debtor or through a court-ordered process. By obtaining a partial release, debtors can regain ownership or transfer the released portion of their property, while the remaining lien continues to secure the outstanding debt.
