A Michigan Notice of Judgment Lien is a document that is provided to a party that has won a civil lawsuit in Michigan. This document provides legal proof of the winner’s claim against the losing party, and serves as a public notice that the winning party has a legal right to collect the amount of money awarded in the lawsuit. There are two types of Michigan Notice of Judgment Liens: a Judgment Lien on Real Property, which applies to land or buildings, and a Judgment Lien on Personal Property, which applies to items such as vehicles, money, and other possessions. The lien will remain in effect until the amount of the judgment is paid in full. If the judgment is not paid, the winning party can take action to collect the money by foreclosing on the property or seizing the personal property.
Michigan Notice of Judgment Lien
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FAQ
The lien is effective for five years (subject to the life of the judgment), may be renewed, and must be paid by the judgment debtor upon conveyance, sale or refinance of the property.
Expiration and discharge, Section 2809: A judgment lien is valid for five years and may be renewed for an additional five years. Furthermore, it can be discharged by the judgment creditor, by the filing of a satisfaction of judgment, by the judgment debtor, by affidavit and proof of payment, or by order of the court.
A creditor must take personal property to pay your debt first. If the money from your personal property does not cover your debt, the creditor can then seize and sell real property you own. Proceeds from the sale are used to pay taxes and mortgages first.
Request a Release-of-Lien Form ? After paying off the balance of your debt in full, the creditor will file a release-of-lien form. This will act as evidence that the debt has been paid and will formally release the lien from your property.
A notice of judgment lien does not require a legal description, but it does require the last four digits of the social security or Tax I.D. number to confirm the judgment debtor. It is recorded in the land title records of the register of deeds, typically in the ?grantor/grantee? index, and may be searched by name.
What Is a Judgment Lien? A Michigan judgment lien is a document filed with a county recorder or registrar of deeds that attaches to real property in that county owned by the debtor identified in the lien. The lien is an encumbrance on such property, much like a mortgage, tax lien, or home equity line of credit.
(1) Unless subsection (2) or (3) applies, a judgment lien expires 5 years after the date it is recorded. (2) Unless subsection (3) applies, if a judgment lien is rerecorded under subsection (4), the judgment lien expires 5 years after the date it is rerecorded.