North Carolina Release of Judgment Lien — Abstract of Judgment is a legal document that serves to release a judgment lien placed on a property. It is commonly used when a debtor has satisfied the judgment against them, and the creditor agrees to remove the lien from the property. In North Carolina, there are two main types of Release of Judgment Lien — Abstract of Judgment: 1. Default Judgment Release: This type of release is used when the debtor fails to respond or appear in court, resulting in a default judgment being issued against them. Once the judgment is paid in full or otherwise satisfied, the creditor can file a Release of Judgment Lien — Abstract of Judgment to remove the lien from the debtor's property. 2. Voluntary Judgment Release: In cases where the debtor and creditor reach an agreement outside of court to settle the judgment, a voluntary release can be filed. This allows the creditor to release the judgment lien on the property once the agreed-upon terms of the settlement have been fulfilled. The process of obtaining a Release of Judgment Lien — Abstract of Judgment involves the following steps: 1. Payment of Judgment: The debtor must satisfy the judgment by making the required payment to the creditor or fulfilling any other agreed-upon terms. 2. Preparation of Release: Once the judgment is fully satisfied, the creditor or their attorney prepares the Release of Judgment Lien — Abstract of Judgment document. It includes details such as the case number, the names of the parties involved, the date the judgment was entered, and the amount paid to satisfy the judgment. 3. Filing the Release: The completed Release of Judgment Lien — Abstract of Judgment form is filed with the county clerk's office in the county where the judgment lien was originally recorded. The filing fee is typically required at this stage. 4. Official Recording: After filing, the clerk's office will officially record the Release of Judgment Lien — Abstract of Judgment in the public records. This ensures that the lien is removed from the property's title, indicating that the debt has been fully satisfied. It is important to note that the Release of Judgment Lien — Abstract of Judgment should be filed within a certain timeframe, as failure to do so may result in the lien remaining on the property even after the judgment is satisfied. Therefore, it is advisable for debtors and creditors to promptly complete the necessary steps to ensure the release is properly recorded. Overall, the North Carolina Release of Judgment Lien — Abstract of Judgment is a crucial document for individuals involved in judgments, providing an avenue to release liens on properties once the debts are fully satisfied.
North Carolina Release of Judgment Lien - Abstract of Judgment
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In some cases, the judgment is a lien on real property in the county. This step might lead to the forced sale of non-exempt assets, such as your home or car, to satisfy the debt. That said, a sheriff sale of real property in North Carolina is not common.
Unless the judgment is earlier satisfied or the judgment lien is released, a real property judgment lien typically remains in effect for 10 years from the date of entry of the judgment. See CCP § 697.310(b).
Money judgments automatically expire (run out) after 10 years.
4 Ways a North Carolina Judgment Goes Away Payment (or Settlement) Naturally, one could pay off a judgment which would resolved the judgment debt. ... Expiration of Judgment. In North Carolina, a judgment is enforceable for 10 years from the date it was entered. ... Voided by Bankruptcy Discharge. ... Set Aside or Vacate Judgment.
CALIFORNIA. A judgment and any lien created by an execution on the judgment expires ten years after the date of the entry of the judgment.
An abstract judgment in real estate is commonly referred to as a property lien. It's a lien on any real estate one possesses in a specific county. This is distinct from any mortgage on the property that they may have taken out.
Do Judgments Expire in Texas? Judgments awarded in Texas to a non-government creditor are generally valid for ten years but can be renewed for longer.
A judgment lien is created automatically on any property owned by the debtor in the North Carolina county where the judgment is entered. For any debtor property found outside the county, the creditor must file the judgment with the county clerk for the county where the property is located.
