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.
A Wisconsin Release of Judgment Lien is a legal document that serves to remove or release a judgment lien placed on a property in the state of Wisconsin. When a judgment is entered against a debtor, the judgment creditor often places a lien on the debtor's property to ensure that they can eventually collect the money owed to them. The Release of Judgment Lien is crucial for debtors as it enables them to clear the title on their property and regain full control over it. This document effectively nullifies the previous judgment lien, freeing the property from any encumbrances and allowing the debtor to sell, transfer, or refinance it without any hindrances. Wisconsin offers different types of Release of Judgment Lien forms, depending on the specific circumstances and parties involved: 1. Voluntary Release: This is the most common type of release that occurs when the judgment creditor willingly agrees to release the lien upon the debtor's payment in full or negotiation of a settlement. Once executed, the voluntary release document is filed with the appropriate Wisconsin county clerk's office to officially remove the lien from the property's record. 2. Satisfaction of Judgment: When the full payment of the judgment debt is made, the judgment creditor is required to file a Satisfaction of Judgment with the court. This document serves as proof that the judgment has been fully satisfied, and the court then issues an order to release the judgment lien on the property. 3. Court Order Release: In some cases, debtors may challenge the validity of a judgment lien, or errors may be discovered in the original judgment. In such situations, a court may order the release of the judgment lien after a proper hearing, upon finding sufficient grounds to do so. The court order release ensures the property is no longer encumbered by the lien. 4. Expiration or Statutory Release: In Wisconsin, a judgment lien generally expires after 10 years from the date it is filed, unless properly renewed. Once the expiration period has elapsed, the lien is automatically released without the need for any additional documentation or court involvement. It is important for debtors to promptly address the Release of Judgment Lien to clear their property's title and regain control over their asset. Professional legal assistance is advisable to ensure compliance with Wisconsin's specific requirements and to navigate the appropriate channels for lien release. By timely obtaining the necessary release documentation, debtors can secure the freedom to utilize their property as desired without the burden of a judgment lien.
