The meaning of LIEN is a charge upon real or personal property for the satisfaction of some debt or duty ordinarily arising by operation of law. How to use lien in a sentence.
Lewis where plaintiff initiated action seeking equitable lien and constructive trust on the settlement funds collected by the defendant. In ruling for the case, the District Court considered the bal...
Twitter Google Share on Facebook statutory lien A charge or claim upon property that arises by virtue of specific statutes that address the relationship between the property owner and the party given the ability to place the lien.A mechanics'and materialmen's lien is a statutory lien;a mortgage...
A lien is often created when an individual uses a loan from a bank to purchase anasset. For example, if someone takes out a loan to buy a car, the car dealer would be paid using the borrowed funds from the bank. In turn, thebankwould be granted a lien on the vehicle. If the bor...
Google Share on Facebook Lienholder (redirected fromLien Holder) Dictionary Lienholder Thelenderon aloanwithcollateral. When one has placed collateral on a loan, the lienholder has the right to take possession of the collateral in the event ofdefault. One cannotsellthe collateral until the loan ...
type of common lien is a judgement lien resulting froma lawsuit initiated by a creditor. Upon winning the suit, a creditor can have a lien placed on the debtor's property in order to facilitate repayment of the debt. Liens may even include the right toattach fundsin thedebtor'sbank ...
Echoing the ruling in Great-West, the Sereboff Court found that one feature of equitable restitution is the imposition of a "constructive trust" or "equitable lien" on "particular funds or property in the. Beware the ERISA health plan lien: you've negotiated a good settlement for your client...
In most cases, after your lien has been filed your customer resolves their account and you need to remove a lien. Once you have received payment in full, or a settlement amount, and the funds have cleared then you are obligated to remove the lien, You can contact Lien-Pro directly to ...
“first in time, first in right” rule, and priority is based solely on time. Generally, if there are not enough funds to pay all mechanics liens of the same class, competing liens must share funds on a pro rata basis. Subcontractors and 3rd tier parties take priority over general ...
lien is removed from the property. Or, if it's a part of a settlement, I've acted as escrow agent so that there's money held back while the work is completed, and it's released upon completion. In short, there are ways to protect your rights that do not rely on a mere promise....