Sunday, February 23, 2014

Release A Property Lien

A lien is a security interest granted over property to secure the repayment of a debt. To provide other interested parties with information about a debtor's creditors, liens are required to be registered in a central location, typically the office of the county recorder for where the property is located. When the underlying debt for a lien is paid off, the lien must be released. The method for releasing a lien requires filing a document, typically called a lien release or lien discharge, with the office where the lien is recorded.


Instructions


1. Obtain a lien release form from the county recorder where the property is located. The type of lien release or discharge form you will need depends on the type of lien you have on the debtor's property. The county recorder for the county where the debtor maintains property will be able to provide you with the correct form for releasing a lien.


2. Fill out the lien release form. You will need to provide a description of the property covered by the lien. If you are only releasing part of the property from the lien, you will need to provide a specific description of what part of the property is being released. Otherwise, a street address will suffice. You will also need to provide the date when the lien was initially recorded. If the lien is a judgment lien, you will need to provide the case number, court issuing the judgment and the names of the parties. You will need to sign and notarize the lien release form.


3. File the lien release form with the county recorder. The cost of recording a lien release varies by county, but may range from $5 to $30. After the lien release is recorded, the judgment debtor should obtain and file a copy of the lien release with the three credit reporting agencies.








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