Title: Understanding Iowa Partial Release of Judgment Lien: Types and Procedures Introduction: In Iowa, a judgment lien is typically placed on a debtor's property after a judgment has been entered against them in a legal dispute. However, in certain circumstances, a debtor may seek a partial release of this judgment lien. This article aims to provide a detailed description of the Iowa Partial Release of Judgment Lien, including its types and procedures. Keywords: Iowa, Partial Release, Judgment Lien, Types, Procedures I. What is an Iowa Partial Release of Judgment Lien? A. An Iowa Partial Release of Judgment Lien refers to the process of removing or reducing the claim of a judgment lien against a specific property owned by the debtor. B. It allows debtors to regain some control over their property by releasing a portion of the judgment lien's hold. II. Types of Iowa Partial Releases of Judgment Liens: A. 1. Full Release of Judgment Lien: — In this type of partial release, the judgment lien is entirely removed from the debtor's property. — Usually granted when the debtor satisfies the judgment amount or makes a settlement with the creditor. B. 2. Partial Release of Judgment Lien: — This type of partial release involves a reduction in the claim of the judgment lien against the debtor's property. — Granted when the debtor makes a partial payment or settles for a reduced amount with the creditor. III. Procedures for Obtaining an Iowa Partial Release of Judgment Lien: A. Filing a Motion: 1. The debtor must file a motion for a partial release of the judgment lien with the appropriate court. 2. The motion should include details such as the property address, remaining judgment balance, and the proposed partial release amount. B. Serving Notice to Creditors: 1. The debtor must serve notice and a copy of the motion to all known judgment creditors. 2. Creditors will have an opportunity to respond or object to the proposed partial release by filing their objections with the court. C. Court Hearing: 1. After serving notice, a court hearing will be scheduled to consider the motion for partial release. 2. The judge will review the motion, objections (if any), and evidence presented by both parties. 3. The judge will determine whether to grant the partial release and specify the amount or conditions to be released. D. Recording the Partial Release: 1. If the partial release motion is granted, the debtor must ensure the release order is recorded in the county where the property is located. 2. Recording the partial release will create a publicly available record, which effectively reduces the judgment lien amount on the property. Conclusion: An Iowa Partial Release of Judgment Lien offers debtors the opportunity to regain control of their property by removing or reducing the claim of a judgment lien. By understanding the types and procedures involved, debtors can navigate the process effectively and seek relief within the Iowa legal system. Note: It is essential to consult with a qualified attorney to ensure compliance with specific Iowa laws and regulations.
Iowa Partial Release of Judgment Lien
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Iowa Code § 614.1. Judgments are liens upon the real estate owned by the defendant for a period of ten years from the date of the judgment. Judgment Lien Duration, Expiration, Renewal or Revival whiteandwilliams.com ? htmldocuments whiteandwilliams.com ? htmldocuments
Iowa judgment liens are created automatically when a judgment is entered on a debtor's property in the county the judgment is entered. For property located outside of that area, the creditor will need to go to the county where the property is located and file the judgment with that county court.
A judgment lien attaching to the real estate of a city may be discharged at any time by the city filing with the clerk of the district court in which the judgment was entered a bond in the amount for which the judgment was entered, including court costs and accruing interest, with surety or sureties to be approved by ... 624.23 Liens of judgments real estate homesteads support ... Iowa Legislature (.gov) ? code ? 624.23.pdf Iowa Legislature (.gov) ? code ? 624.23.pdf PDF
624.24 When judgment lien attaches. In such cases, the lien shall attach on the date the clerk of court files an attested copy of the judgment in the office of the clerk of the district court of the county in which the real estate lies. CHAPTER 624 iowa.gov ? docs ? code iowa.gov ? docs ? code
A judgment lien attaching to the real estate of a city may be discharged at any time by the city filing with the clerk of the district court in which the judgment was entered a bond in the amount for which the judgment was entered, including court costs and accruing interest, with surety or sureties to be approved by ...
626.50 Duty to levy ? notice of ownership or exemption ? notice to defendant.
Note: Failure to satisfy and release a judgment, when paid off or satisfied in full, could result in a penalty of $400.00 if not filed within 30 days of written request (Iowa Code section 624.37). Certification of Acknowledgment (Iowa Code section 624.37): Small Claims Form 3.23: Release and Satisfaction of Judgment iowacourts.gov ? browse ? files ? download iowacourts.gov ? browse ? files ? download
