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choate lien (United States)—a lien in which the lienee, the property, and the monetary amount are established so that the lien is perfected and nothing else needs to be done to make the lien enforceable. [24] common-law lien—a lien arising under the common law, rather than by statute, equity, or agreement between the parties.
A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a United States legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt).
What is a mortgage lien? A mortgage lien is a legal claim to your ... you’ll have to get the lien holder to sign a release-of-lien form and submit it to your local government office ...
A legal lien, in many common law systems, includes a right to retain physical possession of tangible assets as security for the underlying obligations. In some jurisdictions it is a form of possessory security, and possession of the assets must be transferred to (and maintained by) the secured party.
A banker's lien is a legal right arise in many common law jurisdictions of a bank to exercise a lien over any property in the custody of the bank as security. Lien is of two types: Particular lien; General lien; Particular lien confers to retain the goods in connection with which a particular debt arose i.e.
The English common law recognized mechanic's liens respecting only personal property. The lien was created by operation of law by the fact of the artisan working on the personal property item or attaching additional material to it. However, to maintain the lien, the artisan had to retain possession of the article until he or she was paid.
In Mechanics lien law a Preliminary Notice (also known as a Notice to Owner, Materialmens Notice to Owner, Notice of Furnishing, Contractor/Subcontractors Notice to Owner, and others) is a notice sent by the general contractor, subcontractor, materialmen, equipment lessors or other parties to a construction project not to create a Mechanics lien but rather to establish the right to file a ...
A federal tax lien arising by law as described above is valid against the taxpayer without any further action by the government. The general rule is that where two or more creditors have competing liens against the same property, the creditor whose lien was perfected at the earlier time takes priority over the creditor whose lien was perfected at a later time (there are exceptions to this rule ...
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