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 Missouri Release of Judgment Lien, also known as an Abstract of Judgment, is a legal document used to remove a judgment lien from a property in the state of Missouri. When a judgment is entered against a debtor, it creates a lien on their real property, meaning that the creditor has a claim on the property for the unpaid debt. The release of judgment lien serves to cancel this claim and allows the property owner to sell or transfer the property free and clear of the previous judgment lien. There are two types of Missouri Release of Judgment Lien — Abstract of Judgment: 1. Voluntary Release: A voluntary release occurs when the judgment creditor willingly cancels the judgment lien upon receiving full payment of the debt or through negotiations with the debtor. Once the debt is resolved, the creditor executes a Voluntary Release of Judgment Lien, which is then filed with the appropriate county recorder's office. This document effectively eliminates the lien from the property and releases the debtor from any further obligations related to the judgment. 2. Satisfaction of Judgment: A Satisfaction of Judgment is the second type of Missouri Release of Judgment Lien — Abstract of Judgment. It is used when the judgment creditor has been fully satisfied, either through full payment of the debt or through an agreed-upon settlement. The creditor files a Satisfaction of Judgment with the county recorder's office to formally release the judgment lien. This document provides evidence that the judgment has been fully paid and allows the debtor to clear the property title. In both cases, the Missouri Release of Judgment Lien — Abstract of Judgment plays a crucial role in ensuring the property's marketability and allowing the debtor to regain full control over the property. It is important to note that these releases must be filed with the appropriate county recorder's office to be legally recognized and enforceable. Overall, a Missouri Release of Judgment Lien — Abstract of Judgment is an essential legal document that removes judgment liens from a property, enabling property owners to sell or transfer their properties without any encumbrances. Whether through voluntary release or satisfaction of judgment, it provides a clear record of debt settlement and allows for a smooth transition in property ownership.
