Freedom from claims means that there is superior title to that of other transferees, such as prior or subsequent purchasers and
lienholders, as well as bankruptcy trustees vested with the powers of hypothetical purchasers and creditors.
A broadly accepted nonbankruptcy proceeding includes one where a
lienholder can be forced to accept a monetary satisfaction through the process of foreclosure.
(5) "Surrender" means to return the collateral to the
lienholder pursuant to 11 U.S.C.
1993) (subordinating the amount of senior liens that were obtained without necessary consent of junior
lienholders); Carlson, supra note 13, at 218-19 (discussing cases in which equitable subordination was applied outside of bankruptcy); Levitin, supra note 13, at 2 ("Equitable subordination is not exclusively a bankruptcy action....").
If the title shows that the landlord has encumbered its fee interest, the tenant should obtain a non-disturbance agreement from the senior
lienholder.
What is required by a bank or
lienholder for financed property or vehicles?
Unless a party, such as a mortgagee or other
lienholder, submits a claim, excess funds are refunded to the taxpayer.
In effect, the city's position is that federal remedies for
lienholders who receive insufficient notice are inadequate, because they do not allow a
lienholder to discharge the lien while retaining their right to bring suit.
As a result, attorneys believed that they owed Medicare the same duties to safeguard the
lienholder's property interest in liability insurance proceeds as exists with respect to medical liens.
Mirabile (1985), the secondary
lienholder, American Bank and Trust Company, foreclosed upon default by the borrower.
For instance, can a licensee get into trouble by directing an unlicensed customer service representative to make an endorsement to a policy on an insurance company website, even when the modification is as minor as adding or changing a
lienholder on an auto policy, correcting an address, or fixing typos in a VIN number?