This is a form of a Partial Release of Judgment Lien.
Washington Partial Release of Judgment Lien is a legal process that allows for the partial removal or release of a judgment lien on a property in Washington state. A judgment lien is a court-ordered claim placed on a property when a judgment is entered against the property owner for unpaid debts or obligations. In Washington, there are two types of partial releases of judgment lien that can be pursued: full satisfaction and partial satisfaction. 1. Full Satisfaction: This type of partial release occurs when the judgment has been fully satisfied or paid off. Once the outstanding debt is settled, the judgment creditor (the party who holds the lien) can file a release with the Washington State Superior Court or the county where the judgment was initially recorded. This release removes the judgment lien entirely from the property, allowing the property owner to reclaim full ownership without any encumbrances. 2. Partial Satisfaction: In some cases, the debtor may not be able to fully satisfy the judgment, but is able to make a partial payment. In these situations, the judgment creditor may choose to release a portion of the property from the judgment lien. This is known as a partial release of judgment lien. The judgment creditor files a written agreement or order with the court specifying the amount or percentage of the lien that is being released. By doing so, the property owner's rights are restored to the released portion of the property, and they regain some equity and control over their asset. It is important to note that partial releases of judgment lien may require the involvement of all interested parties, including the judgment creditor, debtor, and any other lien holders or stakeholders. All parties involved should consult legal counsel to ensure compliance with Washington state laws and to protect their rights and interests. In summary, a Washington Partial Release of Judgment Lien is a legal mechanism that allows for the removal or release of a judgment lien on a property, either in full or in part, once the obligation is satisfied or partially paid. This process helps restore the property owner's rights and equity while resolving outstanding debts.
