A New York Release of Premises from Lien of Judgment is a legal document used to release the real property of a debtor from the lien of a judgment. This document is executed by the debtor and the creditor, and recorded with the county clerk in order to discharge the lien of the judgment from the debtor's real property. The two main types of New York Release of Premises from Lien of Judgment are full release and partial release. A full release releases the real property from the lien of the judgment in its entirety. A partial release releases the real property from the lien of the judgment to the extent of the amount specified in the document. Both types are recorded in the county clerk's office and remain in effect until they are terminated by a subsequent release.
New York Release of Premises from Lien of Judgment
Description
Definition and meaning
The New York Release of Premises from Lien of Judgment is a legal document used to officially release a property from a judgment lien. A judgment lien is a legal claim against a property to secure payment for a court judgment. By using this form, the party who holds the lien agrees to remove the lien from the property, which allows for clearer title ownership and potential sale or transfer of the property without any encumbrances.
How to complete a form
To successfully fill out the New York Release of Premises from Lien of Judgment, follow these steps:
- Enter the date of the release at the top of the form.
- Identify the parties involved by including their names in the designated sections.
- Specify the details of the judgment, including the date it was issued, amount due, and court information.
- Clarify the sum for which the lien is being released.
- Include a description of the premises affected by the lien in Schedule A.
- Both parties must sign the document in front of a notary public.
Ensure that all information is accurate to prevent any future disputes.
Who should use this form
This form is typically used by individuals or entities that have been granted a judgment against a property owner. The property owner or their representative should also use this form to ensure the lien is formally removed once payment or agreement has been fulfilled. It is useful for landlords, property owners, and judgment creditors who seek to clear titles for property transactions.
Legal use and context
The New York Release of Premises from Lien of Judgment is part of the legal framework regarding judgment liens in New York. Its primary purpose is to facilitate the release of a property from a lien imposed due to a court judgment. This form is critical when a property owner settles a debt or makes an agreement with the creditor, allowing the property to be sold or refinanced without complications from the lien.
Benefits of using this form online
Utilizing the New York Release of Premises from Lien of Judgment form online offers several advantages:
- Convenient access anytime, anywhere.
- Streamlined completion process with guidance and automatic formatting.
- Reduced risk of errors thanks to structured templates.
- Instant download options for immediate use.
These benefits enhance the overall user experience, making it easier for users to manage legal documentation.
What documents you may need alongside this one
When preparing to use the New York Release of Premises from Lien of Judgment, ensure you have the following documents:
- The original judgment or a certified copy.
- Any prior agreements related to the lien.
- Proof of payment or settlement, if applicable.
- Identification documents for all parties involved.
These documents will support your claim and provide clarity during the completion of the form.
How to fill out New York Release Of Premises From Lien Of Judgment?
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Follow these simple guidelines on how to get the ready-to-use New York Release of Premises from Lien of Judgment:
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FAQ
Salary That Can't be Taken To Pay Money Judgments But, salary can't be garnished if after taxes, it is less than 30 times minimum wage. For example, if minimum wage is $13.00 an hour, if the debtor earns $390 per week or less after taxes, all of the money is exempt from garnishment.
Personal Property Execution The Judgment Creditor may file or request a Property Execution asking that the property be seized and sold with the sole proceeds being used to pay off the balance due on the Debtor's judgment. There is no charge for filing or requesting a Property Execution.
How long does a judgment lien last in New York? A judgment lien in New York will remain attached to the debtor's property (even if the property changes hands) for ten years.
Yes, a lien may be placed on property that is jointly owned.
To remove a lien you have to pay the judgment and get the judgment creditor to complete a notarized Acknowledgment of Satisfaction of Judgment (EJ-100). Either party can eFile the form to the court. Then the judgment creditor or you have to record a certified copy of this form in the county where the property is.
In New York, a judgment lien can be placed on a judgment debtor's real property or personal property to secure the collection of a money judgment. Real property is real estate, such as your house, condo, or other land. This means that in New York, a judgment creditor can place a judgment lien against your home.
Request a Release-of-Lien Form ? After paying off the balance of your debt in full, the creditor will file a release-of-lien form. This will act as evidence that the debt has been paid and will formally release the lien from your property.
Default Judgments The default judgment usually gives the plaintiff the right to collect the amount of money that was asked for in the complaint, plus interest and court costs. The judgment will appear on the defendant's credit report, and it can be there for up to seven years if it is not paid.