Escrow & Title
Under Washington law, a 'satisfaction of judgment' removes a judgment lien from a property when:
AThe judgment creditor records a satisfaction with the county auditor✓ Correct
BThe property is sold
CThe judgment expires after 7 years automatically
DThe debtor files for bankruptcy
Explanation
A judgment lien is released when the judgment creditor records a satisfaction of judgment with the county auditor, confirming the debt has been paid. Until satisfied, a judgment lien can cloud the property's title.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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