If an owner of an interest in real property has had a judgment obtained against him or her, this form addresses a release of that judgment lien.
New Mexico Release of Judgment Lien by Creditor
Category:
State:
Multi-State
Control #:
US-OG-540
Format:
Word;
Rich Text
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How to fill out Release Of Judgment Lien By Creditor?
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FAQ
A judicial lien is created when a court grants a creditor an interest in the debtor's property, after a court judgment.
How long does a judgment lien last in New Mexico? A judgment lien in New Mexico will remain attached to the debtor's property (even if the property changes hands) for 14 years.
A judgment obtained through a common law action on a prior judgment or through any other means of revival of a prior judgment shall not be enforceable after fourteen years from the date of the original judgment upon which it is founded.
Any money judgment rendered in the supreme court, court of appeals, district court or metropolitan court shall be docketed by the clerk of the court and a transcript or abstract of judgment may be issued by the clerk upon request of the parties.
After you file your lien and serve it on the owner, your lien is valid for 2 years in New Mexico. That means you have 2 years to enforce your lien claim unless it's extended.
The purpose of the Lien Protection Efficiency Act is to provide for the efficient filing and recording of documents and the protection of public officials and employees and the citizens of the state against nonconsensual common law liens by imposing limitations on the circumstances in which nonconsensual common law ...
One way to collect upon a judgment in New Mexico is to obtain a judgment lien A judgment lien gives the creditor the right to be paid a certain amount of money from proceeds from the sale of the debtor's property. The judgment creditor will need to identify where the defendant (now the judgment debtor) has property.
In all cases when a notice of lien for taxes, penalties and interest has been filed under Section 7-1-38 NMSA 1978 and a period of ten years has passed from the date the lien was filed, as shown on the notice of lien, the taxes, penalties and interest for which the lien is claimed shall be conclusively presumed to have ...