This is a form of a Partial Release of Judgment Lien.
North Carolina Partial Release of Judgment Lien refers to a legal process through which a portion of a judgment lien on certain property is removed or released. This kind of release can be beneficial for property owners who are looking to sell or refinance their property but have an existing judgment lien attached to it. In North Carolina, there are two main types of Partial Release of Judgment Lien: 1. Voluntary Partial Release of Judgment Lien: This type of release occurs when the judgment creditor voluntarily agrees to release a portion of the judgment lien. It typically happens when the property owner pays a specific amount towards the outstanding judgment. The voluntary release could be for a percentage of the lien or a specific amount agreed upon between the parties involved. 2. Judicial Partial Release of Judgment Lien: In some cases, the judgment debtor may file a motion with the court requesting a partial release of the judgment lien. The court will review the motion and determine if there is sufficient cause to grant the release. Common reasons for seeking a judicial partial release include making substantial payments towards the judgment, proving that the value of the property exceeds the outstanding judgment amount, or demonstrating that the full lien is causing undue hardship. It's important to note that the process for obtaining a partial release of a judgment lien in North Carolina can be complex and requires adherence to specific legal procedures. The property owner should consult with a knowledgeable attorney to navigate through the necessary steps, ensuring compliance with relevant laws and requirements. In summary, a North Carolina Partial Release of Judgment Lien is a mechanism that allows property owners to remove a portion of a judgment lien attached to their property. This can be achieved through a voluntary agreement with the judgment creditor or by seeking a judicial determination. Expert legal advice is crucial to successfully obtain a partial release while following the appropriate legal protocols.
