lien

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Related to Lienor: Liens

lien,

claim or charge held by one party, on property owned by a second party, as security for payment of some debt, obligation, or duty owed by that second party. A lien may arise by agreement between the parties or by operation of law from the relation of the parties or the circumstances of their dealings. A special lien applies only to a specific property and any obligations related to it. A general lien can be enforced on a property for any unfulfilled debt in similar lines of business. Laborer's liens establish priority for the payment of employees in favor of general creditors in cases of bankruptcy; mechanic's liens similarly provide priority for the payment of contractors who provided goods and services for building projects. The holder of a first lien takes precedence over all other encumbrances on a piece of property. A tax lien is held by the state or federal government on property which may be foreclosed for nonpayment of taxes.

Lien

A legal charge against property which is made securely for the payment of a debt or for the performance of an obligation.

lien

A right enforceable against specific property to secure payment of an obligation.

lien

Law a right to retain possession of another's property pending discharge of a debt
References in periodicals archive ?
Assuming the likes of subordinate mortgages, mechanic's lienors and judgment creditors cannot defeat the foreclosure action, the only definition of success for that holder of a junior interest (other than the owner selling the property with generous equity and paying off everyone) is to claim against such surplus as the foreclosure sale will generate.
The lienor generally is under no time constraints to bring the
A release for lien rights through time, rather than for a specified amount, works to the advantage of the payor, unless the lienor takes the time to modify the release to fill in the appropriate other exceptions, such as unbilled claim or extra work.
1987) ("negligence which has not resulted in harm to anyone will not be invoked to permit unjust enrichment of the later lienors through their fortuitous advancement in priority by reason of mistake").
Indeed, the ultimate issues of entitlement to and amount of a reasonable fee award, requiring an evidentiary hearing, will be decided later and only if the lienor prevails in the litigation.
Occasions may arise in which a lienor who appears to be without privity may claim to have come into privity with the owner.
If a lienor includes in the claim of lien amounts for work that he or she knows has not been performed, the lien is, by definition, a fraudulent lien.
The lienor subsequently filed a motion to set aside the discharge under Fla.
15) If the lienor is not in privity with the general contractor, it must also serve the contractor with the notice to owner.
10, since lienors can then claim that they believed the landlord, and not the tenant, was the "owner" as to the improvements and, thus, [section]713.
Unit owners may recall or remove members of the board of administration with or without cause, and lienors of an association in termination representing at least 50 percent of the outstanding amounts of liens may petition the court for the appointment of a termination trustee upon a showing of good cause.
116 (1)(a) and (e), Florida Statutes, of the Condominium Act as it currently exists, and opposes any amendments that would increase the liability of a first mortgagee for unpaid assessments or that would otherwise unconstitutionally impair the rights of owners or lienors.