Partial Release of Lien Fees
An “abstract of judgment” creates a lien on any non-exempt property that you own. If you have a homestead, this is exempt from having a lien placed against it. Despite this fact, most title companies will require a partial release of lien to be filed as to any judgment that you have. The partial release of lien essentially says that you are releasing the homestead from the judgment but not you personally. Thus, if you are trying to sell your re-finance your home, you will likely need a partial release of any judgment. We have done many of these partial releases and we charge a flat fee of $750.00 as outlined above.
This procedure is governed by the Texas Property Code and must be done correctly. You must first notify the creditor and the creditors attorney at their last known address of your intent to seek a partial release of the judgment. Then, after 30 days, you must file a properly executed affidavit with the real property records.
Another option is to attempt to get the creditor to release the judgment faster. To do this you must actually find who has the judgment. Since have handled thousands of debt collection matters, we can usually track down the right people to talk to for a release of the judgment. If we cannot, then we proceed with the established procedure above in the property code.
The above flat fee is only for partial releases of judgments that are encumbering your homestead property. If you have a judgment against you and you need to partially release your homestead, contact us today.