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Related to Retaining lien: Lien Holder


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.
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A legal charge against property which is made securely for the payment of a debt or for the performance of an obligation.
Illustrated Dictionary of Architecture Copyright © 2012, 2002, 1998 by The McGraw-Hill Companies, Inc. All rights reserved


A right enforceable against specific property to secure payment of an obligation.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.


Law a right to retain possession of another's property pending discharge of a debt
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
Bankruptcy Code, asserting an attorney's possessory or retaining lien over the escrow funds to secure payment of those additional fees.
Unlike a charging lien, a retaining lien covers the balance due for all legal work done on behalf of the client regardless of whether the property is related to the matter for which the money is owed to the attorney ...
The difficulty of reconciling the client's paramount right to choose a lawyer with the lawyer's ability to frustrate that choice by withholding files casts doubt on the status of the retaining lien in a number of jurisdictions.
4th DCA 1993) (retaining lien is a passive lien and rests entirely on the right of an attorney to retain possession of his client's papers, money, securities, and files as security for payment of the fees and costs earned by the law firm to that point).
Another exception to a lawyer's ability to assert a retaining lien is stated in Ethics Opinion 87-12.
(2) Attorney's Retaining Lien: What Items of Client's Property or Funds are not Subject to Lien, 70 A.L.R.
Fortunately, remedies like retaining liens and charging liens are available.
"The majority of questions relate to conflict issues, but we frequently get questions on everything: what to do with closed files, retaining liens, ancillary businesses of lawyers, confidentiality, and just about anything you can think of," Tarbert said.