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.
Ohio Release of Judgment Lien by Creditor
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Multi-State
Control #:
US-OG-540
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Word;
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How to fill out Release Of Judgment Lien By Creditor?
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FAQ
Regardless of whether any payments are made, your judgment does not last forever. In Ohio, judgments go ?dormant? in 5 years after the latter of: (a) when the judgment was issued, or (b) the last time it was used to create a lien, generate a seizure, obtain a garnishment order, or any other similar effort.
Under Ohio law, a court order gives the creditor the right to collect money by garnishing your wages or your bank account, putting a lien on your real property or seizing your personal property.
WAGE GARNISHMENT: To garnish the Defendant's wages, you must first send by certified mail or ordinary mail with a certificate of mailing (purchased at the post office), a copy of a form called a Fifteen Day Demand or Notice of Court Action to Collect Debt.
Once the creditor has a legal judgment against you, it can ask the court to help it collect. Courts and creditors have several options. They can garnish your wages, levy your bank accounts (take money straight out of them), or place a lien on your home.
If you win a judgment and the other party does not pay, you may start collection proceedings. Certain methods for collecting judgments such as bank and earnings garnishments, liens and attachments are permitted under the law. Filings on these actions can be made in the Clerk's Office Civil Division.
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Ohio, a judgment lien can be attached to real estate only (such as a house, land, or similar property interest).
Once the state liens are paid, you will receive a Lien Satisfaction Notice from the Ohio Attorney General's office. To release the lien, you are to bring the notice to the Clerk's office.
But a judgment from an Ohio court is valid for 5 years, and then becomes dormant unless revived, giving creditors the ability to collect on judgments for much longer. Section 2325.18(B) sets Ohio's statute of limitations for judgment enforcement at fifteen years.