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.
Guam Release of Judgment Lien - Abstract of Judgment
Category:
State:
Multi-State
Control #:
US-OG-538
Format:
Word;
Rich Text
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How to fill out Release Of Judgment Lien - Abstract Of Judgment?
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FAQ
If you do this, the Judgment Debtor will not be able to sell or refinance that property without paying you first. 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.
A judgment lien requires the debtor to pay you the money he or she owes you before selling, transferring, or refinancing that property. To create a lien, you need to record an abstract of judgment with the county recorder's office in the county where the property is located.
An Abstract of Judgment (EJ-001) puts a lien on any land, house or other building that the judgment debtor owns. If the person who lost sells the property with title insurance, you will be paid using the money from the sale. You have to pay to get an Abstract of Judgment from the court.
If you do not pay the judgment, the judge can order you to appear in court. This is called an Application And Order For Appearance and Examination (EJ-125) . You can be ordered into court every 4 months to furnish information to aid in the enforcement of judgment until you pay the judgment.
As part of a typical judgment, the court orders the payment of money from one person to another. But the person who owes the money (the debtor) doesn't always pay up. A judgment lien is one way to ensure that the person who won the judgment (the creditor) gets what he or she is owed.
The easy definition is that a judgment is an official decision rendered by the court with regard to a civil matter. A judgment lien, sometimes referred to as an ?abstract of judgment,? is an involuntary lien that is filed to give constructive notice and is to attach to the Judgment Debtor's property and/or assets.
If the judgment debtor owns real property, you may record an Abstract of Judgment with the County Recorder which will act as a lien against all real property owned by the judgment debtor in the county in which the lien is recorded. Complete an Abstract of Judgment (EJ-001)PDF and submit to the court to be issued.
Write the name and last known address of the judgment debtor in the space provided. You may also include any known aliases used by the judgment debtor. Fill in the last 4 digits of the judgment debtor's driver license number and state where it was issued, if you know them.