Description: Pennsylvania Release of Judgment Lien — By Creditor A Pennsylvania Release of Judgment Lien — By Creditor refers to a legal document that allows a creditor to remove a judgment lien placed on a debtor's property. This release eliminates the judgment lien, giving the debtor the freedom to sell, transfer, or refinance the property without the encumbrance of the lien. This release is typically initiated by the creditor, who acknowledges that the judgment debt has been fully satisfied, settled, or otherwise resolved. By providing this release, the creditor acknowledges that they have no further legal claim against the debtor's property. Within Pennsylvania, there are two primary types of Release of Judgment Lien — By Creditor: 1. Voluntary Release of Judgment Lien: In cases where a debtor has fulfilled their judgment debt, the creditor willingly releases the lien from the property, granting the debtor full ownership and control. 2. Compulsory Release of Judgment Lien: If a debtor has satisfied the judgment or secured a court order to release the judgment lien, yet the creditor refuses to cooperate, the debtor may seek a compulsory release. This process involves filing a motion with the court to enforce the release in order to liberate the property from the judgment lien. Keywords: Pennsylvania, Release of Judgment Lien, By Creditor, legal document, creditor, judgment debt, satisfied, settled, resolved, encumbrance, property, sell, transfer, refinance, voluntary release, compulsory release, debtor, court order, motion.
Pennsylvania Release of Judgment Lien - By Creditor
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How to fill out Release Of Judgment Lien - By Creditor?
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You must hire a levying officer (a registered process server or a sheriff's deputy) to collect your judgment. You cannot serve the Writ yourself. Look at the information you have about your debtor's assets. Then tell the levying officer about the assets and where they are.
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.
If you lose the lawsuit, a judgement is entered against you stating that you owe someone a certain amount of money. A copy will be given to you and the creditor. You usually have 30 days to appeal judgments. If you do not appeal, the creditor can pay a PA constable or sheriff money to try to collect the money from you.
The property can be sold, and the proceeds used to satisfy the judgment. To seize and sell the debtor's tangible personal property, the plaintiff in the lawsuit can request an Order of Execution from the MDJ so long as there is no appeal by the defendant within the thirty (30) day appeal period.
File a praecipe for judgment, a dated copy of the 10 day notice, and a Pennsylvania Rule 236 form. If the debtor is an individual, you must file a notarized affidavit of nonmilitary service. File an original and a copy for each debtor with a Rule 236 form. Include a stamped envelope addressed to each debtor.
5 Steps How to Collect a Judgment in Pennsylvania File Your Judgment With the County Courts. ... File Your Writ of Execution (This the Key for the Sheriff to help you) . ... Seize Bank Accounts by Sending Questions (Interrogatories) to the Banks. ... Levy and Sell Personal Assets and Vehicles. ... Levy and Sell Real Property / Land.
A judgment lien gives a creditor the right to be paid out of the proceeds from the sale of property.
