Michigan Partial Release of Judgment Lien
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How to fill out Partial Release Of Judgment Lien?
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FAQ
Law enforcement can seize any type of property. They can seize physical property like cars, boats, weapons, cash, drugs, drug paraphernalia, houses, and other real property. They may also seize non-physical property such as bank accounts, royalties, and proceeds from crimes.
Section 2809 also provides that judgment liens may be extinguished by recording any of the following with the register of deeds: Discharge signed by the judgment creditor or attorney. Satisfaction of judgment. Court order discharging the lien. Bankruptcy discharge (see above)
Any property you own can be seized to pay the debt. It doesn't have to be related to the debt. Judgment creditors can only seize property you own.
A judgment lien expires after 5 years from the date it is recorded but may be rerecorded once for another period of 5 years not less than 120 days before the expiration of the initial judgment. Mich. Comp. Laws § 600.2809.
Judgment liens do not permit or require seizure and sale of personal property. They may be filed with the court that issued the judgment, certified by the clerk and then recorded with the register of deeds. MCR 3.106 sets forth procedures for officers serving Orders for Seizure of Property.
Income exempt from garnishment. Generally, money from these sources cannot be garnished: Social Security benefits and disability payments. Supplemental Security Income (SSI) payments.
If an injured party wins a lawsuit against you, just about anything of value could be seized, including: Bank accounts. Boats. Jewelry. Real estate. Vehicles.
Different Types of Property Liens Mortgage Lien. Mortgage liens are levied for the debt accepted to buy a home. ... Judgment Lien. Judgment liens can be levied by a court when someone fails to repay a debt. ... Attachment Lien. ... Estate Tax Lien. ... Corporate Franchise Tax Lien. ... Federal Tax Lien. ... Mechanic's Lien. ... Vendor's Lien.
