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 Wisconsin Release of Judgment Lien — Abstract of Judgment is a legal document that plays a crucial role in the process of resolving judgment liens in the state of Wisconsin. A judgment lien is a legal claim against the property of a person or entity who owes a debt to another party, and it can significantly affect the ability to sell or transfer the property. The Release of Judgment Lien — Abstract of Judgment serves as a tool to remove this encumbrance from the property title, providing relief to the debtor and facilitating the smooth transfer or sale of the property. To better understand the different types of Wisconsin Release of Judgment Lien — Abstract of Judgment, it is essential to comprehend the two primary types of judgment liens that can be released: 1. Abstract of Judgment: This type of judgment lien is created when a judgment is docketed, or formally entered, with the circuit court in the county where the property is situated. By filing an abstract of judgment with the county register of deeds, a lien is placed on the debtor's property. The abstract contains detailed information about the judgment, including the parties involved, the amount owed, and any associated interest or penalties. 2. Release of Judgment Lien: A Release of Judgment Lien is a document used to release the abstract of judgment lien from the debtor's property. This document states that the judgment lien is satisfied or no longer enforceable, and it is filed with the county register of deeds to remove the lien's encumbrance from the property title. The release can be obtained by the judgment creditor upon receiving full payment of the debt or by agreement between the parties involved. The Wisconsin Release of Judgment Lien — Abstract of Judgment involves various essential components, including: 1. Debtor information: This section provides the necessary details about the debtor, such as their name, address, and any other identifying information. 2. Creditor information: Here, the creditor's information is entered, including their name, address, and contact details. 3. Abstract details: The document contains a comprehensive description of the abstract of judgment, including the case number, the issuing court, the judgment amount, and any applicable interest or fees. 4. Property details: This section includes information about the property affected by the judgment lien, such as the legal description, address, and identification number. 5. Release statement: The release statement affirms that the judgment lien is discharged, releasing the property from any further encumbrance. It is important to note that the process and requirements for releasing a judgment lien may vary based on the specific circumstances and local regulations. It is recommended to consult with a qualified attorney or legal professional to ensure compliance with all applicable laws and procedures when dealing with a Wisconsin Release of Judgment Lien — Abstract of Judgment.
