This is a form of a Partial Release of Judgment Lien.
Louisiana Partial Release of Judgment Lien
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State:
Multi-State
Control #:
US-OG-543
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Word;
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How to fill out Partial Release Of Judgment Lien?
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FAQ
Hear this out loud PauseA mortgage lien is a voluntary specific lien, and a clear example is the mortgage you have on your home. You entered the lien voluntarily, and it is specific to your home.
Louisiana Laws - Louisiana State Legislature. A money judgment rendered by a trial court of this state is prescribed by the lapse of ten years from its signing if no appeal has been taken, or, if an appeal has been taken, it is prescribed by the lapse of ten years from the time the judgment becomes final.
Hear this out loud PauseHow long does a judgment lien last in Louisiana? A judgment lien in Louisiana will remain attached to the debtor's property (even if the property changes hands) for ten years.
Hear this out loud PauseOnce payment has been received, a contractor has a duty to remove any lien that was filed against the property. Failure to do so allows the property owner to file a lawsuit against the contractor to compel the lien's removal. It should be noted that a lien release is not the same as a lien waiver.
Hear this out loud PauseOnce a lien has been satisfied, the lien holder will transmit an electronic message to the contracted public tag agent which will allow the lien to be released and a clear title printed and mailed.
There are three general steps to filing a mechanics lien in Louisiana: Complete the Louisiana Statement of Claim and Privilege form. Record the claim form with the recorder of mortgages office in the parish where the property is located. Serve notice of the lien claim to the property owner.
Louisiana Laws - Louisiana State Legislature. A. In any case where the tax, penalty, or interest secured by a recorded lien, privilege, and mortgage have been paid, the secretary or his authorized assistants or attorneys may authorize the cancellation thereof.
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Louisiana, a judgment lien can be attached to real estate only (a house, land, condominium, or similar property interest).