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What is a partial release of judgment?

With a partial release, the lender releases a portion of the lien on the collateral securing the loan after the borrower has paid off a portion of the mortgage. The lender maintains a lien on the remaining property until the mortgage has been completely paid off.

What happens if a defendant does not pay a judgment Washington State?

If the debtor does not pay right away, the court may order a payment plan. If the losing party fails to pay, the judgment shall be increased by amounts intended to cover the cost of enforcing the judgment.

In what circumstances is a partial release usually included?

Its understood that a partial release is needed when splitting land and selling a portion while keeping the mortgage, but in this case we want to close out the mortgage so to speak and pay it off completely with the proceeds from the sale.

What is a partial discharge of a mortgage?

What is a partial discharge? A partial discharge occurs when you have more than one property securing your home loan facility and you want to release or sell one or more, leaving the facility open.

What does release of judgment mean?

A judgment release is a document signed by the creditor saying that you have met your legal obligation to pay the debt. This is often called a release of judgment, a satisfaction of judgment, or a release and satisfaction of judgment.