Discharge of Judgment Lien Michigan Form
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People also ask
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What does release of Judgement lien mean?
If you pay off the underlying debt, the creditor will agree to release the lien. The creditor then files a release with the same authority with which it recorded the original lien. (The filed release takes the lien off the property.)
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How do you discharge a Judgement lien in Michigan?
Expiration and discharge, Section 2809: A judgment lien is valid for five years and may be renewed for an additional five years. Furthermore, it can be discharged by the judgment creditor, by the filing of a satisfaction of judgment, by the judgment debtor, by affidavit and proof of payment, or by order of the court.
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What is a discharge of lien in Michigan?
The Michigan Discharge of Lien Form is used to cancel a lien that has already been filed. It's most often used to release a lien claim after a lien claimant receives payment. However, they may also be released based on settlements, legal controversies, because they expired, or more.
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What is a release of lien document in Michigan?
In Michigan, releasing a mechanics lien is as simple as filing what is known as the Michigan discharge of construction lien form. Filing this cancelation document effectively releases a property from the burden of having a mechanics lien attached to it, signifying that the debt has been duly settled.
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How to release a judgment lien in Michigan?
Section 2809 also provides that judgment liens may be extinguished by recording any of the following with the register of deeds: Discharge signed by the judgment creditor or attorney. Satisfaction of judgment. Court order discharging the lien. Bankruptcy discharge (see above)
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What does release of Judgement lien mean?
If you pay off the underlying debt, the creditor will agree to release the lien. The creditor then files a release with the same authority with which it recorded the original lien. (The filed release takes the lien off the property.)
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How long does a judgment lien last in Michigan?
Sec. 2809. (1) Unless subsection (2) or (3) applies, a judgment lien expires 5 years after the date it is recorded. (2) Unless subsection (3) applies, if a judgment lien is rerecorded under subsection (4), the judgment lien expires 5 years after the date it is rerecorded.
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How long does a Judgement lien last in Michigan?
2809. (1) Unless subsection (2) or (3) applies, a judgment lien expires 5 years after the date it is recorded. (2) Unless subsection (3) applies, if a judgment lien is rerecorded under subsection (4), the judgment lien expires 5 years after the date it is rerecorded.
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