If an owner of an interest in real property has had a judgment obtained against the owner, this form addresses a release of that judgment lien.
A Tennessee Release of Judgment Lien is a legal document filed to remove a judgment lien that has been placed on a property in Tennessee. This lien release serves as proof that the debt resulting from the judgment has been fully satisfied or otherwise resolved, allowing the property owner to regain full ownership rights and transfer the property without any encumbrances. When a person or entity obtains a judgment against someone in Tennessee, they may place a judgment lien on any real property owned by the debtor within the state. This lien acts as a legal claim on the property, preventing its sale or transfer until the debt is paid off. However, once the judgment has been fully satisfied, the creditor must file a Release of Judgment Lien with the appropriate county office to remove the lien from the property's title. In Tennessee, there are different types of Release of Judgment Lien forms depending on the specific circumstances involved. Some common types include: 1. General Release of Judgment Lien: This is used when the creditor has received payment in full or otherwise settled the debt, and they are releasing the judgment lien without any further conditions or obligations. 2. Partial Release of Judgment Lien: In situations where the debtor has made a partial payment towards the judgment, the creditor may file a partial release, acknowledging that a portion of the debt has been satisfied and reducing the lien amount accordingly. 3. Release of Judgment Lien with Substitution: If the debtor agrees to substitute another asset of equal value for the property originally encumbered by the lien, the creditor may file this type of release, allowing the lien to be transferred from the property to the substitute asset. 4. Release of Judgment Lien Upon Sale: When a property subject to a judgment lien is being sold, the creditor may file this release to facilitate the transfer of ownership. This type of release ensures that the lien will be satisfied from the proceeds of the sale, allowing the property to be conveyed to a new owner free and clear. Regardless of the specific type, a Tennessee Release of Judgment Lien typically includes essential details such as the parties involved, the case number, the original judgment amount, the date of judgment, and the property's legal description. It is crucial to file this document properly and timely to ensure the lien is officially released and the property's title is clear for future transactions.
