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consummate lien (United States)—a judgment lien arising after the denial of a motion for a new trial. conventional lien (United States)—a lien created by agreement between the parties in circumstances where the law would not otherwise create a lien. deferred lien (United States)—a lien that only takes effect from a future date.
Here’s how mortgage liens work, the difference between voluntary and involuntary liens and how you can make sure your mortgage lien doesn’t become a problem. ... Judgment lien: In the event ...
The legal definition of "judgment" contemplates decisions made by judges in a court of law. [3] Decisions of quasi-judicial bodies and administrative bodies may also be colloquially referred to as "judgments," but they must be distinguished from true judgments in that they are not made by judges in courts of law. [3]
A pledge and a contractual lien both depend upon the delivery of possession to the creditor. The difference between them is that in the case of a pledge the owner delivers possession to the creditor as security, whereas in the case of a lien the creditor retains a right of possession of goods previously delivered to him for some other purpose.
A federal tax lien arising by law as described above is valid against the taxpayer without any further action by the government. The general rule is that where two or more creditors have competing liens against the same property, the creditor whose lien was perfected at the earlier time takes priority over the creditor whose lien was perfected at a later time (there are exceptions to this rule ...
States that follow the lien theory of mortgages require judiciary foreclosure procedures, but allow deficiency judgments against the debtor, although some states have narrowed the time periods to seek a deficiency judgment. [2] There is a difference between a deficiency and a deficiency judgment.
In some states, such as Texas, an abstract of judgment is a specific type of document provided either by the court clerk or by an attorney which is used to prove that a judgment has been rendered. The abstract may then be filed in another jurisdiction, where it constitutes notice of a "judgment lien " on the debtor 's real property , thereby ...
A writ of attachment is filed to secure debt or claim of the creditor in the event that a judgment is rendered. [2] Foreign attachment procedures have existed from time to time in Scotland, where it was known as arrestment; in France, where it was known as saisie arret; in the U.S and elsewhere. [3]