6/1/2023 0 Comments Satisfaction of judgment![]() But it is a loose end worth trying up when an obligation is satisfied. Some parties might be tempted to overlook it. ![]() In the end, Satisfaction of Judgments are important for parties paying of an obligation in family court. Third, when a Satisfaction of Judgment is filed, it can protect the payor’s credit score by ensuring that the past due obligation does not show up on their credit report. Two, the party who received the payment likely cannot later claim that they didn’t receive payment when they signed a Satisfaction of Judgment. One, the court is put on notice that the debt has been satisfied. This is beneficial to the paying party for multiple reasons. ![]() The judgment creditor has accepted payment or performance other than that specified in the judgment in full satisfaction of the judgment. Date: Satisfaction of the judgment is acknowledged as follows: a. The Satisfaction of Judgment is then filed with the court. A notice of judgment lien has been filed in the office of the Secretary of State. A Satisfaction of Judgment is a document signed by one party acknowledge receipt of the payment. When these payments are made, the party paying should likely consider getting a Satisfaction of Judgment. , the undersigned judgment creditor hereby certifies that the judgment entered and docketed in the above named court in the above. It could be that one party is to the pay the other for a past due obligation, like child support arrears. In other instances, the payment could involve child support, spousal support or attorney’s fees. It could be that an item of marital property is being sold or refinanced and a payment is being ordered to another. It could be that an account is being divided and one party is to pay the other. For example, one party might be ordered to the pay the other party a certain amount for property settlement. The payments can sometimes involve property settlements in a divorce. Other times, the court might order the payment after a trial or hearing. Sometimes, the order is through a consent judgment. In divorce or family law matters, there is often times an order from the court for a payment from one party to the other.
0 Comments
Leave a Reply. |