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.
North Dakota Release of Judgment Lien — Abstract of Judgment is a legal document that provides important information regarding the release of a judgment lien in North Dakota. This document is crucial for individuals and businesses who have had a judgment lien filed against their property and wish to remove it. A judgment lien is a legal claim against a property that is typically filed by a creditor when a debt remains unpaid. It gives the creditor the right to seek payment by foreclosing on the property if necessary. However, once the debt is paid off or resolved, it is essential to release the judgment lien to clear the property's title. There are several types of North Dakota Release of Judgment Lien — Abstract of Judgment, including: 1. Partial Release of Judgment Lien: This type of release is used when a portion of the debt has been satisfied. It allows the property owner to clear a specific portion of the lien, reflecting the reduced debt amount. 2. Full Release of Judgment Lien: This is the most common type of release and is utilized when the entirety of the judgment lien has been satisfied. It completely releases the property from the claim, ensuring a clean title. 3. Release of Judgment Lien by Agreement: In certain cases, the creditor and debtor may agree to a payment arrangement or settlement. This type of release is used when the terms of the original judgment lien have been modified, and both parties have reached a new agreement. To initiate the North Dakota Release of Judgment Lien — Abstract of Judgment process, the debtor or their legal representative can complete the necessary forms provided by the North Dakota court system. These forms require relevant details such as the case number, names of the parties involved, property description, and information on the satisfied debt or settlement. Once the forms are completed accurately, they must be submitted to the appropriate court, along with any required filing fees. The court will review the documents and, if everything is in order, issue the Release of Judgment Lien — Abstract of Judgment. This document serves as legal proof that the judgment lien has been properly released, ensuring the property owner's peace of mind and the clear transferability of the property title. In conclusion, the North Dakota Release of Judgment Lien — Abstract of Judgment is a critical legal document that allows individuals and businesses to clear judgment liens on their property. By understanding the different types of releases available and following the necessary steps and procedures, individuals can successfully navigate the process and restore a clean title to their property.
