Pennsylvania Release of Judgment Lien
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How to fill out Release Of Judgment Lien?
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FAQ
Pennsylvania judgments are valid for 5 years. Judgments can be revived every 5 years and should be revived if a creditor is attempting to actively collect on the debt. Judgments also act as a lien against real property for up to 20 years or longer if properly revived.
If a judgment debtor has paid in full, settled, or otherwise complied with a judgment rendered in a magisterial district court, anyone interested in the judgment may request the entry of satisfaction of the judgment by filing a written request in the office of the magisterial district judge who rendered the judgment.
A plaintiff can seize tangible personal property which are items such as household furnishings, jewelry, and business and office equipment.
The creditor can transfer the judgment to any county where the debtor has property. Judgment liens on real property stay in place until they are paid or otherwise released. This situation can cause problems when you try to sell the property.
To obtain a judgment lien, you must first record the judgment with the court of common pleas in the county where the debtor owns property. The lien will stay in effect for five years, but can be renewed, if the debtor does not sell the property within that time period.
If you don't pay within the time limit given in the judgment, the other party can have your salary or other property seized by a bailiff. In this situation, the bailiff's fees will be added to the other amounts you have to pay.
If you do not have the money, they might seize assets, have liens placed on property, or garnish your wages. If you find yourself on the wrong end of a lawsuit, an attorney can help you take the necessary steps to protect yourself.
Pennsylvania judgments are valid for 5 years. Judgments can be revived every 5 years and should be revived if a creditor is attempting to actively collect on the debt. Judgments also act as a lien against real property for up to 20 years or longer if properly revived.
