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 Washington Release of Judgment Lien — Abstract of Judgment is a legal document that serves as a record of the release or satisfaction of a judgment lien on a property. This document, commonly used in Washington state, ensures that the lien is no longer encumbering the property owner's rights. When a creditor obtains a judgment against a debtor, they may place a lien on the debtor's property to secure the debt. However, once the debt is repaid or settled, it becomes necessary to release the lien on the property. This is where the Washington Release of Judgment Lien — Abstract of Judgment comes into play. This document contains important information that must be filled out accurately to officially release the judgment lien. It typically includes details such as the names and addresses of both the creditor and the debtor, the court case number, the date the judgment was issued, the amount of the judgment, and the legal description of the property. In Washington, there may be different types of releases of judgment lien — abstracts of judgment depending on the specific circumstances. Some common types include: 1. Full Satisfaction: This type of release is used when the entire judgment amount has been paid in full by the debtor. It legally clears the property from any encumbrances, allowing the property owner to transfer or sell the property without any complications. 2. Partial Satisfaction: In situations where the debtor has made a partial payment towards the judgment, the creditor may release a part of the judgment lien. This partial release allows the debtor to regain some control over the property while the remaining judgment lien remains in effect. 3. Invalid Judgment: If it is determined that the judgment was obtained improperly or was invalid, the creditor may release the judgment lien entirely. This is crucial in cases where the judgment should never have been placed against the property in the first place. 4. Time-Based Release: In certain situations, a judgment lien may be released after a specific period. For example, if a judgment lien is automatically released after a certain number of years, the Washington Release of Judgment Lien — Abstract of Judgment would document this release. It is important to consult with an attorney or research the specific laws and regulations in Washington state to ensure compliance with the necessary requirements for releasing a judgment lien. Properly completing and filing the Washington Release of Judgment Lien — Abstract of Judgment is crucial in protecting the rights of both the creditor and the debtor and maintaining the accuracy of property records.
