Judgment liens: continuation.

Existing law provides that a judgment lien on specified personal property is created by filing a notice of judgment lien in the office of the Secretary of State. Existing law also provides that, unless the money judgment is satisfied or the judgment lien is terminated or released, the judgment lien continues for 5 years from the date of filing. This bill would authorize a continuation statement, as defined, to be filed not more than 6 months before the expiration of the 5-year period of the judgment lien. A continuation statement would extend the effectiveness of the judgment lien for another 5 years commencing on the date the lien would have expired. The bill would authorize the filing of successive continuation statements. The bill would set forth the circumstances under which the lien would be extinguished. In that case, the bill would require the judgment creditor to file a statement of release within 20 days after the judgment creditor receives an authenticated demand from a judgment debtor. The bill would also authorize the person who made the demand to apply for an order releasing the judgment lien, as specified, if the judgment creditor does not file a statement of release pursuant to that provision. The bill would set forth related fees and definitions for these provisions, and provide for attorney's fees in an action or proceeding maintained pursuant to these provisions. The bill would also specify that nothing in those provisions would be in derogation of any other relief to which an aggrieved person may be entitled by law. The bill would provide that a court order to release the judgment lien may be filed in the office of the Secretary of State.