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.
Idaho Release of Judgment Lien - Abstract of Judgment
Category:
State:
Multi-State
Control #:
US-OG-538
Format:
Word;
Rich Text
Instant download
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How to fill out Release Of Judgment Lien - Abstract Of Judgment?
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FAQ
The creditor collects on a judgment through a "Writ of Execution" which directs a sheriff to seize the debtor's money, property, or real estate to pay the debt (in limited situations, money or property may be taken before a court enters a judgment).
After the lien is recorded and delivered, it is valid for 6 months after the date of filing. Unless you extend the lien, you only have 6 months to enforce your lien claim if needed. If you get paid, it's a good idea to release your lien from the property.
Idaho's lien law can be found in Idaho Code Title 45, Chapter 5. Under this law, when you hire a contractor to do construction work for you, that contractor has a right to secure payment for labor and materials by placing a lien on the property being improved.
Id. A lien resulting from a judgment continues for ten years. Idaho Code § 10-1110. The judgment may be renewed and the lien continued for an additional ten years.
For collection of a debt on an account, where there is an agreement in writing, the statute of limitations is five years. (Refer to §5-216.) For collection of a debt on an account, where there is an oral agreement, the statute of limitations is four years. (Refer to §5-217.)
A creditor must collect on the debt within five years after a court issues a judgment, although a creditor can renew a judgment for additional five year periods. If the creditor does not collect on or renew the judgment within the five year period, they cannot force the debtor to pay...
Some justice courts have a form available on their website to request an abstract of judgment. Once the abstract of judgment has been issued, it may then be filed with the county clerk's office where the real property is located or where property may be located in the future.
