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.
A "Release of Judgment Lien by Creditor" is a legal process in Ohio that allows a creditor to remove a judgment lien from a debtor's property once the debt has been satisfied. Judgment liens are typically placed on a debtor's property by the creditor to secure the payment of a debt owed. The release of a judgment lien is an important step for debtors as it ensures that the lien no longer encumbers their property and enables them to regain full ownership rights. Additionally, it provides a level of protection and peace of mind for debtors who have successfully resolved their debts. The process of obtaining a release of judgment lien in Ohio typically involves the following steps: 1. Satisfying the debt: Debtors must ensure that the outstanding debt, for which the judgment lien was placed, is fully paid off. This may involve making regular payments to the creditor or arranging a lump sum payment. 2. Obtaining a Release of Lien form: In Ohio, creditors are responsible for providing debtors with a "Release of Judgment Lien" form after the debt has been satisfied. This official document outlines the creditor's consent to remove the judgment lien from the debtor's property. 3. Filing the Release of Lien form: Once obtained, the debtor needs to file the Release of Lien form with the Ohio county recorder's office where the lien was originally recorded. This step ensures that the release is officially recorded, removing the lien from public records. It's important to note that different types of judgment liens may have specific requirements for release. In Ohio, common types of judgment liens include: 1. Real Estate Lien: This type of judgment lien allows a creditor to attach a property owner's real estate to secure a debt. Once the debt is paid, the creditor must provide a Release of Real Estate Lien form to remove the lien from the property. 2. Personal Property Lien: A personal property lien allows a creditor to place a lien on a debtor's personal belongings, such as vehicles, jewelry, or artwork. Similarly, once the debt is satisfied, the creditor must provide a Release of Personal Property Lien form to release the lien on the debtor's possessions. It is crucial for debtors to follow the necessary procedures and documentation when seeking a release of judgment lien in Ohio. Failure to properly secure the release could lead to complications when attempting to sell or transfer the encumbered property in the future. Therefore, it is recommended that debtors consult a legal professional for guidance and assistance throughout the release process.
