LegalSite - Online services division of McKimmey Law Office, Shawnee, Oklahoma. Legal forms, documents and pleadings for use in Oklahoma.


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LegalSite - Internet Services
McKIMMEY LAW OFFICE, P.C.
The Aldridge- Suite 137
20 E. Ninth Street
Shawnee, Oklahoma 74801
Telephone: 405-275-3564

E-mail: legalsite@yahoo.com


RELEASE OF JUDGMENT

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After all payments and credits have been made on a judgment entered by any authorized governmental authority, the judgment must be released and the release must be filed of record.

Institutional Judgment Creditors generally prepare and record any Releases required to show that the Judgment Creditor no longer claims an interest in real property by virtue of a Judgment.

However, individual lenders seldom, if ever, are prepared to release a judgment after the Judgment is paid.

A judgment may be released by:

  • The Owner(s) of the Judgment, or

  • Surviving Joint Tenant; or

  • The Personal Representative of estate of the Judgment Holder(s); or

  • Duly Appointed attorney in fact for the Judgment Holder(s);

  • The Surviving joint tenant, if the judgment owners hold the judgment in Joint Tenancy with full rights of survivorship, and not as tenants in common.

  • President of Corporation, attested to by Secretary and with Seal Affixed.



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We Prepare

  • Original and One Copy of The Release of Judgment, ready for execution by the Judgment Owner(s).

  • Complete instructions


Our Charge for the Service is $65.00






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Definitions
  • A JUDGMENT is the highest evidence of a debt ( obligation ) owed by one person ( or firm or entity ) to another person ( or firm or entity ).

  • A JUDGMENT is an order of the Court ( or other authorized govermental entity ) that one or more ( persons, firms or entities ) owes another ( persons, firms or entities ) an obligation, that the Court may enforce through some legal means or procedure.

  • Most often a JUDGMENT requires the payment of money by the prevailing party (winner ) in a lawsuit, to pay money to the losing party.

  • The JUDGMENT DEBTOR is the one(s) that owes the money on the Judgment. The JUDGMENT CREDITOR is the one(s) that owes the money on the Judgment.

  • A JUDGMENT may be enforced ( collected ) by the JUDGMENT CREDITOR by several means. I.e. Contempt proceedings; garnishment, execution and sale of non-exempt personal property.

  • If the JUDGMENT DEBTOR Debtor owns real property the JUDGMENT CREDITOR may cause the Judgment to become a lien on all of his/her real property in any county or state where he or she owns real property - and may force the sale of the amount of property it takes to pay off the Judgment Lien .

  • Joint Tenants means that in the event of the death of one of the Joint Tenant Judgmeny Creditor the survivor is the owner of the judgment.

  • Partial Release of Judgment is a Release of the Judgment only as to a portion of the Preoperty covered by the Judgment.

    A Partial Release of Judgment Releases only that porion of the property described in the Release.

    Property not specifically described in the Partial Release remains subject to the Judgment.




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If the Owner(s) of the Judgment has not been fully paid, and does not intend to release all of the property of JUDGMENT DEBTOR from the JUDGMENT LIEN they should execute only a Partial Release of Judgment describing only the property meant to be released.

Failure to limit the effect of the Release may cause loss to the Judgment holder in that the Judgment may ano longer constitute a lien on other property of the JUDGMENT DEBTOR.





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If a JUDGMENT DEBTOR does not get a Release of Judgment, and have it recorded, then the JUDGMENT becomes a lien on all real property thereafter acquired.

If the Judgment is being released by a Personal Representative; or Attorney in Fact; or by a Surviving Joint Tenant, then proof of authority must also be recorded when the Release of Judgment is recorded.

A JUDGMENT is an asset to the JUDGMENT CREDITOR and he/she has the power to assign the judgment other persons. If he/she assigns the Judgment to another person, firm or entity then the new OWNER OF THE JUDGMENT will be the person(s) to whom the obligation is owed, and who has the power to enforce the judgment in the same manner as the original JUDGMENT CREDITOR, who must release the judgment.




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If you have specific questions concerning your Release of Judgment, please E-Mail your questions. You should get a response by the next business day.

You May Complete The Following Form to Provide All of the Information We Need To Prepare Your Release of Judgment.

If more information is necessary we will send you an E-Mail requesting more specific information.




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Release of Judgment Questionaire



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Information About The Judgment




County & State Where Judgement Was Granted - and Case Number

County - State - Case No. -

Description of Real Property Exactly As It Appears on The Real Estate
Judgment and/or the names of all counties in which the debtor owns
property which may be affected by the judgment





Leave Lines You don't Need Blank


Date of Judgment:
Book Number Where Judgment is Recorded:
Page Number Where Judgment is Recorded:
Exact Name of Judgment Debtor(1) on Judgment:
Exact Name of Judgment Debtor(2) on Judgment:
Exact Name of Judgment Debtor(3) on Judgment:
Exact Name of Judgment Debtor(4) on Judgment:
Exact Name of Judgment Creditor(1) on Judgment
Exact Name of Judgment Creditor(2) on Judgment:
Exact Name of Judgment Creditor(3) on Judgment:
Exact Name of Judgment Creditor(4) on Judgment:


Is Judgment Debtor a Corporation
- Yes
- No

Is Owner of Judgment a Corporation
- Yes
- No







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Name of Person(s) Who Will Sign Release of Judgment
Use Only if Original Judgment holder(s) Is Not Signing


Full Name - First, Middle, Last:
Full Name - First, Middle, Last:
Full Name - First, Middle, Last:
Full Name - First, Middle, Last:



Title of this Person?
- Surviving Joint Tenant
- President of Corporation
- Personal Representative
- Attorney In Fact
- Heir of Judgment





Questions or Comments






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Send Completed Forms To:

Full Name - First, Middle, Last:
Mailing address:
Street address or P.O. Box:
City:
State or Province:
Zip or Postal Code:
County:
Telephone:
Fax:
E-mail address:



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Other Services Now Offered

[ home ] [ Amortization Schedule ] [ Certificate of Incorporation ] [ Divorce - Waiver Set ]
[ Contract For Deed ] [ Deed Preparation ] [ Termination of Joint Tenancy ] [ Termination of Life Estate ]
[ Transfer on Death Deed ] [ Medical Authorization for Care of Minor ] [ Change of Name ]
[ Power of Attorney ] [ Pre-Nuptial Agreement ] [ Promissory Note ]
[ Release of Mortgage ] [ Release of Judgment ] [ Vacate Divorce Decree ]


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McKimmey Law Office, P.C.
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4/18/15