A lien is an encumbrance on one person's property to secure a debt the property owner owes to another person. The statement that someone's property is "tied up" describes the effect of liens on both real andPersonal Property.Lienis a French word meaning "knot or binding" that was brought...
5.Obligations Post-Discharge: Even if a debt is discharged in bankruptcy, certain liens can remain, meaning the debtor may still be responsible for satisfying the lien to clear the title of the property.6.解除后的义务:即使债务在破产中被解除,某些留置权仍可能存在,这意味着债务人仍需满足留置权...
A lienholder is the bank, finance company, credit union, other financial institution, or individual with whom you signed an agreement to borrow money using a particular asset, such as a car, as collateral. As long as there is a balance due on the loan, the lienholder must be repaid befo...
There are also liens known as statutory liens, meaning that they were created by law rather than a specific contract. These liens are common in the field of taxation, where laws often allow tax authorities to put liens on the property of delinquent taxpayers. For example, many municipalities c...
meaning that the lien is created by an action taken by the debtor, such as a borrower who obtains a mortgage to buy a home and agrees that the home will serve as collateral for the loan. That's opposed to an involuntary lien, which is imposed on the debtor by, for example, a court...
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Twitter Google Share on Facebook Mechanic's Lien Dictionary Thesaurus Encyclopedia Wikipedia A charge or claim upon the property of another individual as security for a debt that is created in order to obtain priority of payment of the price or value of work that is performed and materials that...