A satisfaction of judgment is a recorded entry made by a party in whose favor a judgment was rendered, declaring that he has been satisfied and paid. The person who pays the judgment, called the judgment debtor, is entitled to demand that the person to whom the money judgment is owed, called the the judgment creditor, sign the satisfaction of judgment, file it with the court clerk, acknowledge it before a notary public, and record the document with the County Recorder or Recorder of Deeds if there is an abstract of judgment (a document showing the amount of the judgment which is a lien on any real property belonging to the defendant) on record. Upon being paid all amounts due on a money judgment, the judgment creditor shall furnish to the judgment debtor and file with the clerk a written statement that the judgment has been satisfied. Upon the filing of the statement the clerk shall enter the judgment satisfied. If the judgment creditor fails to file a satidfaction of judgment, the judgment debtor may file a motion for an order of satisfaction, declaring that the judgment has been satisfied.
