OAR 137-100-0025
Request for Release
(1)
An applicant may request release of judgment lien from a specific parcel of real property when either the money judgment lien does not attach to any equity in the real property or the amount of equity in the real property to which the judgment lien attached, less costs of sale or other reasonable expenses, is paid upon the money judgment. The request for issuance of a release of judgment shall contain the following information:(a)
The name of the defendant as stated on the judgment;(b)
The address of the applicant;(c)
The telephone number of the applicant;(d)
The address and legal description of the specific parcel of real property to be released;(e)
The designation of the court in which the original judgment was entered whether district or circuit court;(f)
The county in which the court is located;(g)
The case number;(h)
The date of docketing in the judgment docket:(i)
The total amount of the money judgment;(j)
The date of any prior partial satisfactions of judgment issued and the amount satisfied with copies of all partial satisfactions attached to the request form;(k)
A copy of the criminal judgment in which the monetary obligation is set forth must be attached to the request form;(l)
The criminal defendant’s ownership interest in the parcel, including an attached copy of a deed or document evidencing the defendant’s ownership interest if less than full attached to the request form;(m)
A recent appraisal or fair market value study of the parcel attached to the request form;(n)
The sale price of the parcel with documents relating to the sale, if any, of the parcel including the sale price and sale terms, attached to the request form;(o)
The amount of the defendant’s equity in the property with documents relating to and establishing the defendant’s equity in the parcel attached to the request form, including copies of loan or debt documents and/or contracts;(p)
The total costs of sale with documents relating to and establishing costs of sale (can be in the form of the closing statement) attached to the request form;(q)
The total reasonable expenses with documents relating to and establishing these expenses attached to the request form;(r)
A certified copy of the court clerk’s record of payment of less than the full amount of the judgment, if any, which identifies the name of the defendant and the case number, must be attached to the request form;(2)
Request for Release of Judgment form: An approved request form is required which provides all of the above information. The form may be obtained by the Issuer of Releases. The Issuer of Releases shall determine if the information submitted substantially complies with the rules. If the information submitted is incomplete, additional information may be requested. The decision of the Issuer of Releases as to substantial compliance with these rules shall be final.(3)
Release of Judgment when the money judgment lien does not attach to any equity in the real property: A release of judgment may be obtained for a specific parcel of real property when the documents required by (1)(a)–(r), above, establish that the money judgment lien does not attach to any equity in the parcel.(4)
Release of Judgment when the amount of equity in the real property, less costs of sale and reasonable expenses, is paid upon the money judgment: A release of judgment may be obtained for a specific parcel of real property when the documents required by (1)(a)–(r) above, establish that payment upon the money judgment has been received by the court clerk in the amount that the defendant’s equity in the parcel exceeds the costs of sale or other reasonable expenses.(a)
The costs of sale and other reasonable expenses may or may not be accepted by the Issuer of Releases in his or her sole discretion. The Issuer of Releases may reduce the costs of sale and/or the expenses in his or her sole discretion based on the documents and other information submitted with the Request for Release, and may reduce the expenses based on the Issuer of Releases’ determination of reasonableness. An oral or written explanation of such reductions must be provided to the applicant upon request, which request may be oral. The Issuer of Releases may request further information or evidence to substantiate the costs and/or expenses. The applicant is entitled to submit further information or evidence in the event of a reduction.(b)
The payment upon the judgment must equal the equity in the parcel less the costs and reasonable expenses accepted by the Issuer of Releases. If the Issuer of Releases determines that the equity which exceeds the accepted costs and reasonable expenses is greater than the amount of payment upon the judgment, the additional amount must be paid to the court clerk and a certified copy of the court clerk’s record of this payment, identifying the name of the defendant and the case number, must be submitted to the Issuer of Releases in order to obtain a release.(5)
In addition to when the applicant has complied with (1)–(4), the Issuer of Releases will consider the following factors in making its decision:(a)
The documentation presented contains obvious or apparent irregularities or any procedural or substantive basis exists for which a release should be denied;(b)
The monetary obligation runs to any party other than the state;(c)
There is any continued use, direct or indirect use of the property by the or for the future benefit of defendant. The release of judgment shall specify the parcel of real property subject to the release. The money judgment shall remain a lien against all real property not specifically released.(6)
Filing of Release of Judgment: The Issuer of Releases shall mail or deliver the Release of Judgment to the applicant and the court clerk’s office where the original money judgment was filed. If a certified copy of the judgment was filed in the County Clerk Lien Records, a certified copy of the Release of Judgment shall be mailed or delivered by the Issuer of Releases to the county clerk’s office of the county in which the original money judgment was issued. The Issuer of Releases shall also deliver to the applicant an executed Release of Judgment for every county where a certified copy of the judgment or lien record abstract has been recorded. Verification of the docketing of the Release of Judgment shall be forwarded by the Issuer of Releases to the applicant at the address stated on the Request for Release of Judgment by first class mail, postage prepaid.(7)
No Independent Verification Required: The Issuer of Releases shall not be required to obtain the certified payment record from the court clerk, obtain additional documentation or verify payment of the money judgment.(8)
No Compromise by Issuer; Interest Not Applicable: The Issuer of Releases will not be authorized to compromise or make any agreement or stipulation for release of the lien. Because releases shall not be authorized to compromise or make any agreement or stipulation for release of the lien. Because releases of judgment liens to the defendant’s equity in the parcel, and not to the total obligation, the issue of whether interest accrues on the judgment is not relevant to the release.
Source:
Rule 137-100-0025 — Request for Release, https://secure.sos.state.or.us/oard/view.action?ruleNumber=137-100-0025.