If an owner of an interest in real property has had a judgment obtained against him or her, this form addresses a release of that judgment lien.
Kansas Release of Judgment Lien by Creditor
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Multi-State
Control #:
US-OG-540
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Word;
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How to fill out Release Of Judgment Lien By Creditor?
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FAQ
The State of Kansas exempts the property and income below from seizure by any court to pay creditors; although some items listed apply only in bankruptcy cases. Real property or mobile home used as residence, unlimited value, up to one acre in town or city or 160 acres on farm [K.S.A.
If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you. This allows them to take possession of your real estate holdings, personal property, or business.
A Kansas judgment is enforceable for five (5) years. If not renewed, or executed within this period, it will become dormant and cease to operate as a lien on the defendant's real estate.
(2) A "renewal affidavit" is a statement under oath, signed by the judgment creditor or the judgment creditor's attorney, filed in the proceedings in which the judgment was entered and stating the remaining balance due and unpaid on the judgment.
How long does a judgment lien last in Kansas? A judgment lien in Kansas will remain attached to the debtor's property (even if the property changes hands) for five years.
A Kansas judgment is enforceable for five (5) years. If not renewed, or executed within this period, it will become dormant and cease to operate as a lien on the defendant's real estate.
For example, the Kansas statute of limitations is three years for oral contracts, five years for written contracts, and two years for personal injury and property damage cases. If you don't file within the proper period, you lose your right to sue.
The most common properties seized because of a judgment lien are real estate, vehicles and wages. In most cases, a collector will start with wage garnishment to pay off a debt, and then move to the seizure and sale of property to fund the judgment through proceeds.