This is a form of a Partial Release of Judgment Lien.
A West Virginia Partial Release of Judgment Lien refers to a legal process that allows a debtor to partially release a judgment lien placed on their property. This release enables the debtor to regain ownership or transfer the title of a portion of the property while still keeping the remaining portion encumbered by the lien. In West Virginia, a judgment lien can be created when a creditor obtains a court judgment against a debtor who fails to satisfy their debt. This lien, usually filed with the county recorder's office, grants the creditor the right to claim a portion or the entirety of the debtor's property to satisfy the outstanding debt. However, in cases where the debtor wants to sell or transfer part of the lined property, they can seek a Partial Release of Judgment Lien. By obtaining a Partial Release of Judgment Lien, the debtor can free a specific portion of their property from the encumbrance imposed by the judgment lien. This enables them to sell or transfer that portion without hindrance, while the lien remains in force on the remaining part. In West Virginia, there are two main types of Partial Release of Judgment Liens: 1. Partial Release of Judgment Lien by Agreement: This type of release occurs when the debtor and creditor reach an agreement on the partial release of the judgment lien. The terms of this agreement outline the specific portion of the lined property to be released, along with any additional conditions or considerations. 2. Partial Release of Judgment Lien by Application: In situations where the debtor is unable to reach an agreement with the creditor, they can apply to the court for a partial release. The debtor must provide a convincing argument and evidence to support the necessity of the release, as well as demonstrate the fairness of the proposed division of the property. The court will review the application and make a judgment based on the circumstances presented. Obtaining a West Virginia Partial Release of Judgment Lien can be a complex process, requiring legal expertise and thorough understanding of the applicable laws. Debtors seeking to engage in such a procedure should consult with an experienced attorney specializing in judgment liens to ensure compliance with all legal requirements and maximize the chances of a successful release.
