{"id":362666,"date":"2013-01-28T16:34:14","date_gmt":"2013-01-28T21:34:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/dictionary\/definition\/lien.html"},"modified":"2013-01-28T16:34:14","modified_gmt":"2013-01-28T21:34:14","slug":"lien","status":"publish","type":"dictionary","link":"https:\/\/dictionary.findlaw.com\/definition\/lien.html","title":{"rendered":"Lien"},"content":{"rendered":"\n
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term:<\/p>\n

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n<\/p><\/dt>\n

[Anglo-French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen<\/i>, from ligare<\/i> to bind]
:<\/b> a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or esp. by operation of law
;specif<\/i>
:<\/b> a security interest created esp. by a mortgage <\/p>\n

assessment lien<\/b>
:<\/b> a lien that is on property benefiting from an improvement made by a municipality and that secures payment of the taxes assessed to pay for the improvement <\/p>\n

attachment lien<\/b>
:<\/b> a lien acquired on property by a creditor upon levy of an attachment <\/p>\n

car·ri·er’s lien<\/b>
:<\/b> a lien against freight conferring on the carrier the right to retain the property until the amount due is paid <\/p>\n

charging lien<\/b>
:<\/b> a lien attaching to a judgment or recovery awarded to a plaintiff and securing payment of the plaintiff’s attorney’s fees and expenses called also special lien<\/i> <\/p>\n

choate lien<\/b>
:<\/b> a lien that requires no further action to be made enforceable and that identifies the lienor, the property subject to the lien, and the amount of the lien <\/p>\n

common-law lien<\/b>
:<\/b> a lien under common law giving a creditor (as a bailee) in possession of property the right to retain possession until payment of the amount due <\/p>\n

equitable lien<\/b>
:<\/b> a lien against property that does not require possession of the property and that is available in equity to prevent unjust enrichment <\/p>\n

factor’s lien<\/b>
:<\/b> a lien against property held on consignment by a factor conferring the right to retain possession of the property until payment of the amount due NOTE: Under Article 9 of the Uniform Commercial Code, a factor’s lien is simply a security interest and, unlike a common-law lien, is enforceable even after the factor is no longer in possession of the property. <\/i> <\/p>\n

first lien<\/b>
:<\/b> a lien taking precedence over all other claims, charges, or encumbrances of the same general category but not necessarily over those (as taxes) imposed by government sanction <\/p>\n

float·ing lien<\/b>
:<\/b> a lien created in a security agreement against property owned by the debtor at the time of the agreement’s creation as well as property acquired after the agreement’s creation <\/p>\n

general lien<\/b>
1<\/b> :<\/b> a lien that is for the satisfaction of a balance due from an owner of property and that is not confined to the amount due in respect to the property itself
2<\/b> :<\/b> retaining lien <\/a> in this entry <\/p>\n

inchoate lien<\/b>
:<\/b> a lien for which some procedure remains unfinished or some term remains undetermined <\/p>\n

involuntary lien<\/b>
:<\/b> a lien that arises other than by the debtor’s consent (as by operation of law) <\/p>\n

judgment lien<\/b>
:<\/b> a lien acquired against the property of a debtor by a creditor upon obtaining a favorable judgment <\/p>\n

judicial lien<\/b>
:<\/b> a lien obtained by a legal or equitable process (as judgment, levy, attachment, or execution) <\/p>\n

ju·nior lien<\/b>
:<\/b> a lien that is lower in priority relative to other liens <\/p>\n

landlord’s lien<\/b>
:<\/b> a lien against the goods and valuables of a tenant to secure payment of rent or sometimes repayment of money otherwise owed to a landlord <\/p>\n

maritime lien<\/b>
:<\/b> a lien arising under maritime law against a ship or its cargo (as for services or supplies tendered or for damages caused by a collision) which may be enforced by a court-ordered seizure of the property in order to satisfy the obligation <\/p>\n

ma·te·ri·al·man’s lien<\/b>
[mə-tir-ē-əl-mənz-]
:<\/b> a lien on property for materials supplied <\/p>\n

me·chan·ic’s lien<\/b>
:<\/b> a lien against a building and its site to assure priority of payment for labor or services (as construction and sometimes design) or material <\/p>\n

retaining lien<\/b>
:<\/b> a lien that attaches to the papers or property of a client which have come into his or her attorney’s possession in the course of employment and that secures payment of the attorney’s fees called also general lien<\/i> <\/p>\n

se·nior lien<\/b>
:<\/b> a lien that is higher in priority relative to other liens <\/p>\n

special lien<\/b>
1<\/b> :<\/b> an equitable lien enforceable to compel performance of an obligation (as under a divorce settlement)
2<\/b> :<\/b> charging lien <\/a> in this entry <\/p>\n

spe·cif·ic lien<\/b>
:<\/b> a lien upon specific property as security for the payment of a debt or the satisfaction of some other obligation arising out of a transaction or agreement involving that property compare general lien<\/a> in this entry <\/p>\n

statutory lien<\/b>
:<\/b> a lien imposed by statute <\/p>\n

tax lien<\/b>
:<\/b> a statutory lien on property for taxes due giving the taxing authority a security interest in the property compare tax sale<\/i> at sale<\/a> <\/p>\n

vendor’s lien<\/b>
:<\/b> a lien on esp. real property securing payment in full of the purchase price by the buyer <\/p>\n

voluntary lien<\/b>
:<\/b> a lien created (as by contract) with the consent of the debtor <\/p>\n<\/dd>\n<\/dl>\n

Source: Merriam-Webster’s Dictionary of Law \u00a91996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.<\/div>\n<\/div>\n
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Related Terms from the Bankruptcy and Debt Law Glossary<\/h2>\n\t\n\t
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