lien


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Related to lien: line, Construction lien

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 ?
Up to $600 million of CPLV debt that was not able to be sold to third party investors would be issued to First Lien Creditors as CPLV mezzanine debt and would have an interest rate ranging from 8.
In other words, when assigning the lien to an investor, municipalities would need to receive 100 percent of the value of the lien.
Media Contact: Brad Westover, Executive Director, National Tax Lien Association, 561-449-2484, Email
Q What notice must be given to a property owner regarding a lien before a lien can be claimed?
The culprits, they say, are Los Angeles County tax collectors, armed with a byzantine tax code on manufactured homes, who have slapped them with liens for unpaid taxes without ever bothering to notify them.
Before the auction began, an IRS representative notified the audience of the existence and amount of the bank's liens and said any successful bidder would have to satisfy the liens.
Arizona Tax Lien investors can now instantly download the latest 2007 tax lien lists for all counties in Arizona at http://www.
The updated list includes 4,177 new liens filed in December for an additional $28.
Recorded construction loan mortgages--even with the requisite Lien Law [section] 13 covenants for mortgages stating they are subject to the trust fund provisions of the Lien Law--do not provide adequate notice.
6320(a), the Service has to provide the taxpayer with written notice of the lien filing within five business days of the filing.
Her liens, such as a $50 billion lien against the postmaster general and a postal inspector, were filed against the individuals, officials said.
NEW YORK -- Fitch assigns an 'AA' rating to approximately $900 million of Dallas Area Rapid Transit (DART) senior lien sales tax revenue refunding bonds, series 2007.