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.
The Utah Release of Judgment Lien — Abstract of Judgment is a legal document that serves to release a judgment lien that has been placed on a property in Utah. When a judgment is issued by a court in favor of a creditor, they have the right to place a lien on the debtor's property to secure the debt. However, once the debt is paid or satisfied, the creditor must release the lien. The Release of Judgment Lien — Abstract of Judgment is a crucial step in clearing the title of a property from any encumbrances that resulted from a judgment. This document serves as proof to the public that the judgment lien has been released and the property is no longer encumbered by that debt. There are different types of Utah Release of Judgment Lien — Abstract of Judgment, namely: 1. Full Release: This type of release is used when the judgment has been fully satisfied, and no outstanding balance remains. Once recorded, this full release removes any claim or lien on the property and restores the debtor's full ownership rights. 2. Partial Release: In cases where the judgment has been partially satisfied, a partial release may be issued. This release removes the lien on a specific portion or amount of the property, reflecting the partial satisfaction of the debt. The remaining portion of the judgment lien will remain in effect until further satisfaction. 3. Conditional Release: In some instances, a creditor may agree to release the judgment lien conditionally. This means that the lien will only be released upon the debtor fulfilling certain conditions, such as making specific payments or meeting other pre-determined obligations. A conditional release allows the debtor to take the necessary steps to satisfy the conditions and ultimately remove the judgment lien. 4. Revocation of Release: Occasionally, a released judgment lien may need to be revoked due to a material error or oversight. If it is determined that the release was issued in error, a Revocation of Release may be filed to reinstate the judgment lien. This is done to rectify any mistakes and place the property back under the lien's protection. In conclusion, the Utah Release of Judgment Lien — Abstract of Judgment is a vital legal document used to release judgment liens on properties in Utah. Whether it is a full, partial, conditional, or revoked release, this document ensures that the property's title is cleared, allowing the owner to freely transfer or sell the property without any encumbrances caused by the judgment lien.
