A legal hold or claim of one person on the property of another as security for a debt or charge The right given by law to satisfy debt
A legal claim by one person on the property of another for security for payment of a debt
A charge upon or security interest in real or personal property maintained to ensure the satisfaction of a debt or duty ordinarily arising by operation of law
A legal claim on the property of a borrower pledged as a security for the payment of a debt If the debt is not repaid as promised, the lender or the lien holder can enforce his/her claim on the property and compel the sale of the property to pay off the debt (e g ,see Mechanic's Lien)
A claim against the property for the payment of a debt, judgment, mortgage or taxes
that successively attaches to such assets as a person may have from time to time, leaving him more or less free to dispose of or encumber them as if no such charge or lien existed
A claim against a property for the payment of a debt A mortgage is a lien; other types of liens a property might have include a tax lien for overdue taxes or a mechanics lien for unpaid debt to a subcontractor
A claim or charge on property for payment of some debt With respect to a mortgage, it is the right of the lender to take the title to your property if you do not make the payments due on the mortgage
A claim against property which then serves as security for the payment of that claim (LE)
A legal claim; a charge upon real or personal property for the satisfaction of some debt or duty; a right in one to control or hold and retain the property of another until some claim of the former is paid or satisfied
A recorded claim against a property whereby the property is held as security for a debt Under certain circumstances, the holder of the lien is entitled to have the property sold to satisfy the debt
A legal claim against a property that must be paid off when the property is sold
a large dark-red oval organ on the left side of the body between the stomach and the diaphragm; produces cells involved in immune responses
A claim on property to prevent the sale or transfer of that property until a debt is paid The lien may be enforced or collected by levying on the property (See also levy )
the legal right to keep something that belongs to someone who owes you money, until the debt has been paid (ligamen, from ligare ). In law, a charge or encumbrance on property for the satisfaction of a debt or other duty. Common law developed two kinds of possessory lien: the specific (a lien on the specific property involved in a transaction) and the general (a lien for the satisfaction of a balance due, not confined to a specific property involved in a transaction). Courts of equity may, through the device of the equitable lien, recognize a creditor's interest in a debtor's property. Statutory liens are also available; developers and building contractors, for example, may use their interest in an improved site as security for payment (a mechanic's lien)
A legal claim against another person's property as security for a debt A lien does not convey ownership of the property, but gives the lienholder a right to have his or her debt satisfied out of the proceeds of the property if the debt is not otherwise paid
A claim upon property to prevent the sale or transfer of that property until a debt is satisfied
A legal claim or attachment against property as security for payment of an obligation
A property right which remains attached to an object that has been sold, but not totally paid for, until complete payment has been made It may involve possession of the object until the debt is paid or it may be registered against the object (especially if the object is real estate) Ultimately, a lien can be enforced by a court sale of the property to which it attached and then the debt is paid off from the proceeds of the sale
A legal claim by one party against the property of another as security for a debt Must be paid off when property is sold A mortgage or a first trust deed is a lien
A legal claim on the property that acts as a security for the payment of a debt If the debt is not repaid as promised, the lender or the lienholder can foreclose its claim on the property and force a public sale to pay the debt
A charge or claim by one party on the property of another as security for the payment of a debt
A claim by a party on the property of another for payment of a debt or obligation It is not a right to the property itself, but rather stops the owner from doing anything with it The lien may be enforced or collected by levying on the property (see Levy)
(Kanun) In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials man, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property (of the owner)
A financial institution (e g , bank, credit union, etc ) which may become the owner of the property, if there is a lien against it Several factors may influence who is awarded custody of the property The owner may have incorporated insurance into a loan and named a benefactor A co-owner maybe involved or the heirs, next of kin, or legal representative of the owner may still retain rights unless payments stop and the lien holder calls for final payments (Legal assistance shall be solicited to resolve such issues )
A person or company who has a legal interest in an object owned by another person Ex The loan on a vehicle The company issuing the loan is the lien holder
lien on a debtor's property that is granted to a creditor by court judgment; lien may be enforced by having the sheriff seize the property and hold a sheriff's sale
lien on a tenant's property for the satisfaction of unpaid rent or property damage; the landlord is given the status of a preferred creditor with regard to the tenant's property
A restriction on a certain parcel of property that usually reflects an amount of money due to a third party from the owner of the property, which may or may not be related to the property Examples are liens, and mechanic's liens tax liens, judgment
Any type of financial instrument secured by your property Life Insurance Face Amount Life insurance face amount refers to the death benefit paid by a term or whole life policy
A lien that secures priority of payment for the price of work performed and materials furnished in construction or repair of improvements to land, and which attaches to the land as well as the improvements
A lien created by statute for the purpose of securing priority of payment for the price of value of work performed and materials furnished in construction or repair of improvements to land, and which attaches to the land as well as the improvements
A lien created by statue for the purpose of securing priority of payment for the price of value of work performed and materials furnished in construction of repair of improvements to land, and which attached to the land as well as the improvements
A lien on real property, created by statue in many years, in favor of persons supplying labor or materials for a building or structure, for the value of labor or materials supplied by them In some jurisdictions, a mechanics lien also exists for the value of professional services Clear title to the property cannot be obtained until the claim for the labor, materials, or professional services is settled Timely filing is essential to support the encumbrance, and prescribed filing dates vary by jurisdiction
The right given by state law for a supplier of goods or services to impose a lien on the property that has been improved by the goods or services, where payment has not been received, even if there is no contractual agreement between the owner and the creditor
A statutory lien created in favor of contractors, laborers and materialmen who have performed work or furnished materials in the erection or repair of the building
The legal enforceable claim which a person who has performed work or provided materials is permitted to make against title to the property or as a preferential person in the event the estate or business is liquidated
A lien created by statute which exists against real property in favor of persons who have performed work or furnished materials for the improvement of the real estate A lien allowed by statute to contractors, laborers, and materialmen on buildings, or other structures upon which work has been performed or material supplied
A lien created by judgement for the purpose of paying for work performed and materials furnished in construction, repair or improvements to land, or attached to the land
Recourse available to repair facilities in some states by which they can confiscate and sell your vehicle to compensate themselves if you don't pay your bill
>> A lien created by state law for debts owed to a carpenter, contractor, plumber or other entity hired by the property's titleholder for services performed or materials provided to repair or improve the property
A type of lien issued on behalf of persons supplying labor or materials for a job to guarantee payment Under it, clear title to the property cannot be obtained until the claim is settled
A lien created by statute for the purpose of securing priority of payment for the price or value of work performed and materials furnished in construction or repair of improvements to land, and which attaches to the land as well as the improvements
>> A lien for outstanding or delinquent property, IRS or state taxes Tax liens for delinquent property taxes are the most common and attach only to the property upon which the taxes are unpaid Property tax liens always take priority over other liens
A statutory lien, existing in favor of the state or municipality, for nonpayment of property taxes which attaches only to the property upon which the taxes are unpaid
Liens placed on property by governmental entities for failure of the owner to pay taxes, be they taxes for the property itself, or for other taxes that the owner has failed to pay, like income or payroll taxes Title Insurance An insurance policy issued by a title company to protect the named insured against any claims to the legal title of property by third parties The two common types of policies are a Lender's Policy and an Owner's Policy