Wisconsin Satisfaction of Judgment or Partial Satisfaction of Lien is a document that is filed in Wisconsin courts when a judgment or lien has been partially or fully paid. It releases the lien holder from any further obligation on the debt. There are two types of Wisconsin Satisfaction of Judgment or Partial Satisfaction of Lien: full satisfaction and partial satisfaction. A full satisfaction releases the lien holder from their entire obligation on the debt, while a partial satisfaction releases the lien holder from only a portion of the debt. Both require the lien holder to file the document with the court in order to be legally released from the debt.
Wisconsin Satisfaction of Judgment or Partial Satisfaction of Lien
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Satisfaction of Judgment or Partial Satisfaction of Lien
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A judgment can remain on your credit report for seven years or until the statute of limitations expires, whichever is longer. In Wisconsin, the statute of limitations on a judgment can be up to 20 years.
A satisfaction of judgment is a document signed by a judgment creditor and generally filed with the court, indicating that a judgment has been paid in full.
If the court determines that the judgment has been partially satisfied and that the judgment creditor has not complied with the demand, the court shall make an order determining the amount of the partial satisfaction and may make an order requiring the judgment creditor to comply with the demand.
Generally, the creditor gives the debtor (person who owes the money/property) the completed Satisfaction of Judgment (form GF-129) to file with the Clerk of Circuit Court and pay the filing fee. Satisfactions of Judgment can be filed electronically via the Wisconsin Courts System eFiling.
If the defendant doesn't pay, you may docket the judgment at the Clerk of Courts office. The docketed judgment then acts as a lien on the defendant's real estate owned in Dodge County. If the defendant fails to file the required financial disclosure form, you can ask the court to hold the defendant in contempt.
How long does a judgment lien last in Wisconsin? A judgment lien in Wisconsin will remain attached to the debtor's property (even if the property changes hands) for ten years.
Tells the court and others that a judgment has been paid in full or in part. Can be recorded with a county to release a lien against the judgment debtor's land or filed with the Secretary of State to release a lien against the debtor's personal property.
The Satisfaction of Judgment form should be signed by the judgment creditor when the judgment is paid, and then filed with the court clerk. Don't forget to do this; otherwise, you may have to track down the other party later. It's easy to get a copy of a Satisfaction of Judgment form.