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To obtain a lien on real property in the state of Virginia, the judgment creditor must "docket" the lien in the public records office of the city or county where that property is physically located. Once the lien is docketed, the creditor files a "creditor's bill in equity" in that jurisdiction, which will require the chancellor to appoint a ...
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [2]
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
The Federal Reserve Board asked an appeals court to delay the court-ordered release of documents that would identify banks that might have failed without support from the U.S. government. The Fed ...
While the process varies, once the bank is notified of a death, it typically freezes or places a hold on the account. It might also cancel transfers and access to debit or credit cards associated ...
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.
hotelkeeper's lien—a possessory or statutory lien allowing an innkeeper to hold, as security for payment, personal property that a guest has brought into the hotel (also referred to as an innkeeper's lien). inchoate lien—a lien that may be defeated if the relevant judgment is vacated or a motion for a new trial is granted.
Small business owners should not forget about a rule — currently in legal limbo — that would require them to register with an agency called the Financial Crimes Enforcement Network, or FinCEN ...