Title: Wisconsin Abstract of Judgment: A Comprehensive Guide to Understanding its Types and Implications Introduction: In Wisconsin, an Abstract of Judgment is a legal document that serves to acknowledge and document an outstanding monetary judgment against a person or entity. It acts as a tool to enforce the judgment, restrict property transfers, and serve as a public record of the debt. This detailed description will explore the concept of Wisconsin Abstract of Judgment, highlighting its significance, variations, and key keywords associated with it. Key Keywords: — Wisconsin Abstracjudgmenten— - Legal document — Outstanding monetarjudgmenten— - Enforcement tool — Property transfer— - Public record - Debt Types of Wisconsin Abstract of Judgment: 1. General Wisconsin Abstract of Judgment: The general Wisconsin Abstract of Judgment is the most common type, used to record regular monetary judgments against an individual or business. It includes key information such as the names of the parties involved, the amount owed, the date of judgment, and any applicable interest or fees. This type of abstract is crucial for creditors as it establishes a public record of the debt and makes it easier to enforce the judgment if necessary. 2. Domestic Support Abstract of Judgment: This type of Wisconsin Abstract of Judgment specifically pertains to outstanding unpaid child support or alimony payments. It provides an additional layer of enforcement against those who fail to meet their financial obligations towards their dependents. The domestic support abstract serves as a powerful tool for collecting overdue support by applying various enforcement methods, such as garnishment of wages or tax refunds. 3. Abstract of Judgment for Personal Injury Cases: Designed for personal injury lawsuits, this type of Wisconsin Abstract of Judgment focuses on documenting and enforcing monetary awards granted to plaintiffs in cases involving injuries, medical expenses, or other damages. The abstract details the amount owed by the defendant to the injured party, allowing the judgment holder to utilize legal means for collection, including wage garnishment or property liens. Implications and Noteworthy Information: — Filing an Abstract of Judgment in Wisconsin is a formal process that requires the judgment holder to submit the necessary paperwork to the county clerk's office where the judgment was obtained. — Once filed, the Wisconsin Abstract of Judgment becomes a matter of public record, accessible to anyone searching for information on a debtor's financial obligations. — Abstracts of Judgment have a specific lifespan in Wisconsin, which is currently ten years from the date of filing. However, they can be renewed before their expiration to extend their validity. — A Wisconsin Abstract of Judgment creates a lien on the debtor's property. If they attempt to sell or transfer the property, the lien ensures that the judgment holder will be prioritized in receiving their owed funds from the sale proceeds.
Wisconsin Abstract of Judgment
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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.
The abstract informs the county in which you have filed it that there is a judgment against the debtor and it creates a judgment lien on the debtor's real estate in that county. The judgment will probably be picked up by credit reporting agencies and be noted on the debtor's credit report.
Recording the abstract of judgment with the county recorder places a judgment lien on any real estate that the defendant owns in that county at the time of the recording or may own in the future.
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.
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.
A case abstract is a concise summary of a legal case that provides the reader with an overview of the key facts, issues, and decisions made by the court. It is often used by law students to study cases and by lawyers to help clients understand the outcome of their case.
The lien created by the recorded Abstract of Judgment continues for 10 years from the date of entry of the money judgment, and can be renewed for additional 10-year periods.