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 Wyoming Release of Judgment Lien refers to a legal process that allows the removal or discharge of a judgment lien placed on a property in Wyoming. This release enables the property owner to regain full control over their property, free from any encumbrance caused by the judgment lien. When a judgment is entered against a property owner in Wyoming, the judgment creditor (the person or entity who won the lawsuit) may place a lien on the debtor's property. This lien serves as a legal claim on the property, ensuring that the creditor has the right to potentially collect the debt by forcing a sale of the property. However, once the judgment debt is fully satisfied, a Wyoming Release of Judgment Lien can be obtained to remove the lien from the property. This release eliminates the public record of the judgment lien, ensuring that the property owner can once again transfer or sell their property without any hindrance caused by the previous lien. There are two types of Wyoming Release of Judgment Lien: 1. Voluntary Release: This type of release is obtained when the judgment creditor willingly releases the lien after the judgment debt has been fully paid. The creditor may issue a written document stating that they no longer have any claim on the property and that the judgment lien is released. 2. Court Order Release: In some cases, the property owner may need to request a court order to obtain the Wyoming Release of Judgment Lien. This can happen if the judgment creditor refuses to voluntarily release the lien, even after the debt has been satisfied. The property owner would need to file a motion with the court, providing evidence that the debt is paid, and request the court to issue an order releasing the judgment lien. It is important for property owners in Wyoming to obtain a Release of Judgment Lien as it allows them to enjoy full ownership rights without any encumbrances. Additionally, having a clear title facilitates future property transactions, such as refinancing or selling the property, without any legal complications. In summary, a Wyoming Release of Judgment Lien is a legal process that allows the removal of a judgment lien from a property. This release can be obtained either through a voluntary release by the judgment creditor or by obtaining a court order if the creditor refuses to release the lien. By obtaining this release, property owners in Wyoming can regain full control and enjoy their property without any constraints caused by the judgment lien.
