Satisfaction of Judgment and Release of Judgment Lien: This form is used when a judgment previously rendered against the Defendant, has been satisfied and/or paid. Upon satisfying the judgment, the Defendant uses this form to request any liens against him/her be removed or released. This form is available for download in both Word and Rich Text formats.
Tucson Arizona Satisfaction of Judgment and Release of Judgment Lien
State:
Arizona
City:
Tucson
Control #:
AZ-JDMT-3
Format:
Word;
Rich Text
Instant download
Description
How to fill out Arizona Satisfaction Of Judgment And Release Of Judgment Lien?
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FAQ
In Arizona, a debtor must often satisfy a judgment to have it removed from their property. Otherwise, the lien will be attached to the debtor's property for the next ten years. If the judgment is fulfilled, the judgment creditor must file a satisfaction of judgment with the court, usually within a specified period.
Satisfaction of a judgment means that the judgment is no longer a lien on the debtor's real property. The courts cannot control the actions of third parties, but usually, the fact of satisfaction is recorded by the major credit reporting agencies and included in the debtor's credit history.
I. In Arizona, a judgment is initially effective for ten years after the date of its entry, and execution must be accomplished within that period. A.R.S. § 12-1551(B).
How long does a judgment lien last in Arizona? A judgment lien in Arizona will remain attached to the debtor's property (even if the property changes hands) for five years.
Satisfaction and release is the formal paperwork stating that a consumer has paid the full amount owed under a court judgment. A satisfaction and release proves that they have paid their debt and prevents creditors from trying to recover more money from them.
A motion to vacate must be filed within a reasonable time. For reasons (1) and (2), the motion must be filed no more than 6 months after the entry of the judgment or date of the proceeding, whichever is later. (c) Providing the Motion to the Other Party and Time for Response.
Satisfaction of Judgment. A document indicating a judgment has been paid or otherwise is no longer due, required to be filed with the clerk of each court where the judgment has been docketed and also recorded in the office of each county recorder where the judgment has been recorded.
If you see 'satisfied' against any items on your credit report, it indicates that your creditor has marked a default. You may have missed several payments as previously described, but an unexpected advantage is that this entry should disappear from your credit file sooner than the 'settled' debt.
Satisfaction and release is the formal paperwork stating that a consumer has paid the full amount owed under a court judgment. A satisfaction and release proves that they have paid their debt and prevents creditors from trying to recover more money from them.
Key Takeaways. Satisfaction and release states that a consumer has paid the full amount of debt that was owed to a creditor under a court judgment. A satisfaction and release prevents creditors from attempting to recover more money from the borrower or consumer.
