Question \#33 of 60 After a property is sold to satisfy a judgment lien, the debtor should receive A) a writ of execution. B) a deficiency judgment. C) a release of judgment. D) a writ of attachment.
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Mind Expander
If a property is sold to satisfy a judgment lien, the debtor may receive a deficiency judgment if the sale proceeds are less than the amount owed on the lien. This means the debtor is still responsible for the remaining balance. It's crucial for debtors to understand this possibility, as it can lead to further financial obligations even after the property is sold. In many states, once a property is sold and the judgment lien is satisfied, the debtor should also receive a release of judgment. This release clears the title of the property from the lien, allowing the debtor to move on without the financial burden hanging over them. It's like a fresh start, so keep those documents handy!
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