lien

(redirected from lienable)
Also found in: Dictionary, Thesaurus, Medical, Legal, Financial.
Related to lienable: Lienor, Lien Holder

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 ?
It is not likely that a Connecticut appellate court would hold indirect home office overhead, for example, "Eichelay" claims, or other indirect "impact" claims to be lienable, as they do not constitute monies expended directly for the "improvement" of real property.
Offsite labor furnished by a sub-subcontractor is lienable. 'While Iowa does not separately address subdivisions, the Iowa courts have found grading and architectural services (provided the property is actually improved) to be covered by the statute.
Basic repairs for tenants, however, are not lienable.
Tenant build-out is lienable where the owner has contributed to a tenant allowance.
There is authority in dicta from an intermediate appellate court stating that architectural services (for the design of work on a specific location) may be lienable. [4] However, given that the priorities of a lien versus a construction mortgage are determined by when work first commences "on said land," [5] the subject of offsite work may receive further judicial scrutiny in the future.