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.
A Michigan Release of Judgment Lien refers to a legal document that officially terminates or removes a recorded judgment lien on real property within the state of Michigan. This document plays a vital role in clearing the title of a property, allowing the owner to sell or transfer it without any encumbrances. It serves as proof that the judgment debtor has fulfilled their obligations or satisfied the debt, ensuring that the property is no longer at risk of forced sale to settle the debt. The Michigan Release of Judgment Lien is commonly used when a judgment debtor fulfills their debt obligations or pays off the judgment in full. By filing this release with the appropriate county recorder or registrar of deeds, the lien holder declares that they have no further claim on the property and that the lien is released. This document effectively removes the judgment lien from the property's title records, restoring the property's marketability and allowing property transactions to proceed smoothly. It is essential to note that there are no specific types of Michigan Release of Judgment Lien documents as the general concept remains the same across different cases. However, it is crucial to distinguish between the release provided by the judgment creditor and the release executed by the judgment debtor. 1. Judgment Creditor's Release: This type of release is issued by the judgment creditor, typically upon receiving full payment of the judgment debt. The creditor may draft the release themselves or appoint an attorney to do so. This document confirms that the judgment has been satisfied, and the creditor releases all claims and liens against the property. 2. Judgment Debtor's Release: In certain cases, the judgment debtor may ask the court to issue a release of judgment lien, especially when they have satisfied the judgment in a manner other than paying the judgment creditor. For example, if the debtor has entered into a settlement agreement or completed a court-approved alternative to payment, they can request a release from the court. This type of release proves to potential buyers or lenders that the lien no longer poses a threat to the property's title. By properly executing and recording the Michigan Release of Judgment Lien, all parties involved can ensure clarity in property ownership, maintain accurate title records, and promote seamless real estate transactions. It is advisable to consult with an attorney or legal professional well-versed in Michigan's lien release requirements to ensure compliance with applicable laws and procedures.
