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 Mississippi Release of Judgment Lien refers to the legal process by which a judgment creditor acknowledges the satisfaction of a judgment lien placed on the property of a judgment debtor. This document is crucial for the debtor as it confirms the full payment or settlement of the judgment and releases the property from any encumbrances caused by the lien. In Mississippi, there are two primary types of Release of Judgment Liens: 1. Voluntary Release of Judgment Lien: This type of release occurs when the judgment creditor voluntarily acknowledges that the debt has been fully satisfied, allowing the debtor to free their property from the lien. The creditor typically signs a written document known as the Voluntary Release of Judgment Lien, which explicitly states the satisfied judgment amount, the date of satisfaction, and any other relevant details. 2. Court-Ordered Release of Judgment Lien: In some cases, the judgment debtor may request the court's intervention to obtain a release of the judgment lien. This typically occurs when the judgment creditor refuses to release the lien even after the debt has been fully paid. The debtor can file a motion requesting the court to order the release of the judgment lien. If the court finds that the judgment has been satisfied, it will then issue a Court-Ordered Release of Judgment Lien, declaring the satisfied judgment and directing the creditor to remove the lien from the property. To obtain a Mississippi Release of Judgment Lien, the judgment debtor must follow certain procedures. They need to gather all relevant information related to the judgment, including the case number, the court where the judgment was obtained, and the identity of the judgment creditor. The debtor must then draft the appropriate release document, clearly stating the judgment details and the request for release. Once the document is prepared, it must be signed, notarized, and filed with the appropriate court or county recorder's office. A Mississippi Release of Judgment Lien offers significant benefits to the debtor. It effectively removes the encumbrance on the property, allowing the debtor to regain full ownership rights. This, in turn, enhances the debtor's creditworthiness and helps rebuild their financial standing. It is crucial for the debtor to retain a copy of the release document for future reference and to update credit reporting agencies and other relevant entities about the release to ensure accurate reporting of their credit history. In conclusion, a Mississippi Release of Judgment Lien is a vital legal document that allows a judgment debtor to eliminate the encumbrance placed on their property by a judgment lien. Whether obtained voluntarily or through a court order, this release signifies the satisfaction of the judgment and grants the debtor the freedom to regain control of their property.
