A Virgin Islands Release of Judgment Lien — Abstract of Judgment refers to a legal document that serves to remove or release a judgment lien from a property in the U.S. Virgin Islands. This process allows the property owner to regain full control and sell or transfer the property without any encumbrances. In order for a judgment lien to be released, a valid abstract of judgment must be obtained. An abstract of judgment is an authenticated copy of a court judgment obtained from the Clerk of Court's office. It contains crucial information about the judgment, including the court's decision, the amount owed, interest, and any other penalties. Once the abstract of judgment is obtained, it creates a lien on any property owned by the judgment debtor within the jurisdiction. When a judgment is fully satisfied, the creditor or judgment holder may initiate the process of releasing the judgment lien by filing a Release of Judgment Lien — Abstract of Judgment. This release document signifies that the judgment has been paid in full and the lien on the property is no longer valid. It is crucial to promptly file this release with the appropriate government office to ensure the official removal of the lien. Different types of Virgin Islands Release of Judgment Lien — Abstract of Judgment forms may vary depending on the specific court jurisdiction and circumstances. Some common variations include: 1. Release of Judgment Lien — Abstracjudgmenten— - Single Property: This type of release applies when a judgment lien was placed on a single property, such as a residential home or commercial building. 2. Release of Judgment Lien — Abstracjudgmenten— - Multiple Properties: In cases where a judgment lien is applied to multiple properties owned by the debtor, this type of release is used to release the lien from all properties collectively. 3. Release of Judgment Lien — Abstracjudgmenten— - Partial Satisfaction: If a judgment debtor makes a partial payment towards the outstanding judgment debt, a partial satisfaction release can be filed to reflect the reduced amount of the lien on the property. 4. Release of Judgment Lien — Abstracjudgmenten— - Full Satisfaction: This release document is filed when the judgment debtor satisfies the entire judgment debt, signaling the complete removal of the lien from the property. It is important to consult with an attorney or seek legal advice to ensure the proper preparation and filing of the Release of Judgment Lien — Abstract of Judgment form in the U.S. Virgin Islands.
Virgin Islands Release of Judgment Lien - Abstract of Judgment
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How to fill out Release Of Judgment Lien - Abstract Of Judgment?
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FAQ
Abstract of judgement refers to a copy or summary of a court's judgement. Some common uses of the term ?abstract of judgement? include: In the context of a civil case, abstract of judgement is a document disclosing a monetary award issued by the court in favor of a judgement creditor against a judgement debtor.
Upon satisfaction of a judgment, creditor must file a release of judgment (Virginia Code § 8.01-454). Creditor or their legal representative shall draft a satisfaction or complete CC-1463/Authorization for Entry of Satisfaction of Judgment and /or Release of Judgment Lien (PDF).
This judgment is of two kinds, namely, interlocutory or final. JUDGMENT IN REPLEVIN, is either for the plaintiff or defendant.
An abstract judgment in real estate is also called a property lien. It's a lien against any real property you own in a particular county. This is separate from any mortgage that you may have taken out on the property.
The purpose of an abstract of judgment is to create a public record and create a lien or claim if necessary on any real estate owned or later acquired by the loser located in the county in which the abstract of judgment is recorded.
Judgment is a court decision that settles a dispute between two parties by determining the rights and obligations of each party. Judgments are classified as in personam, in rem, or quasi in rem. Judgments are usually monetary, but can also be non-monetary, and are legally enforceable.
To do this, fill out an EJ-001 Abstract of Judgment form and take it to the clerk's office. After the clerk stamps it, record it at the County Recorder's Office in the county where the property is located. Place a lien on a business.
