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It is an inherent vagary in the lien release law. In the United States, some states only use a conditional waiver on progress payment and an unconditional waiver on final payment. The mechanics lien process can be of great value to claimants in enforcing their claims, if done according to the laws of the various states, or the federal ...
The doctrine of exoneration of liens (sometimes simply referred to as "doctrine of exoneration") refers to a common law rule. The rule says that encumbrances (i.e. a mortgage ) of a property conveyed by a will is discharged with funds from the originating estate , not from the property itself.
The accord is the agreement to discharge the obligation and the satisfaction is the legal "consideration" which binds the parties to the agreement. A valid accord does not discharge the prior contract; instead it suspends the right to enforce it in accordance with the terms of the accord contract, in which satisfaction, or performance of the ...
dragnet lien (United States)—a lien that is enlarged to cover any additional credit extended to the debtor to the same creditor. environmental lien—a charge, security, or encumbrance on a property's title to secure payment of cost or debt arising from response actions, cleanup, or other remediation of hazardous substances or petroleum products.
[51] [52] Payment plays a crucial role in financial law because it determines when parties are able to discharge duties. In Lomas v JFB Firth Rixson Inc [2012] EWCA Civ 419, the issue concerned when a debtor was able to discharge the duty to pay under the ISDA Master Agreement (1992). The requirement for payment arises in English law from a ...
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For example, in Ohio, a vehicle owner who wishes to sell a car that has an ELT must first have the lien released by paying the lienholder the remaining amount owed on the lien. The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some ...
In property law, the term free and clear refers to ownership without legal encumbrances, such as a lien or mortgage. [1] For example: a person owns a house free and clear if he has paid off the mortgage and no creditor has filed a lien against it.
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