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Simple English definitions for legal terms
Satisfaction of judgment
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A quick definition of Satisfaction of judgment:
A satisfaction of judgment is a paper that says a person who won a court case has been paid all the money they were owed. If the person who lost the case owns property, they can ask for the paper to be recorded with the government to show that they paid the debt.
A more thorough explanation:
Definition: A satisfaction of judgment is a legal document that confirms a judgment has been paid in full. It is signed by the creditor and filed with the court. If the creditor has a lien on the debtor's property, the debtor can request that the satisfaction of judgment be recorded with the recorder of deeds.
Example: John owes Jane $10,000 for damages to her car. Jane takes John to court and wins the case. The court orders John to pay Jane $10,000. Once John pays the full amount, Jane signs a satisfaction of judgment and files it with the court to confirm that the judgment has been paid in full.
Example: Sarah has a lien on Tom's house because he owes her money. When Tom pays off the debt, he requests that Sarah sign a satisfaction of judgment and record it with the recorder of deeds to remove the lien from his property.
These examples illustrate how a satisfaction of judgment is used to confirm that a judgment has been paid in full and to remove any liens on the debtor's property.