Legal Dictionary

Tag: Liens

  • Lien

    A charge upon property of another either real or personal as security for the payment of a debt or performance of a duty in priority to the general debts of the owner . A tie that binds property to a debt or claim for it; satisfaction , as a right to possess and retain […]

  • Lien

    A charge upon property of another either real or personal as security for the payment of a debt or performance of a duty in priority to the general debts of the owner . A tie that binds property to a debt or claim for it; satisfaction , as a right to possess and retain […]

  • Lien Waiver

    Concept of Lien Waiver (waiver of Liens) in the context of Real Property A short definition of Lien Waiver (waiver of Liens): For our purposes, a waiver of mechanic’s lien rights, signed by subcontractors so that the owner or general contractor can receive a draw on a construction loan.

  • Lien Theory

    Concept of Lien Theory in the context of Real Property A short definition of Lien Theory: A theory followed in several states that assumes a mortgage has only a lien on the mortgage property, and the mortgagor has legal title. See: Title Theory.

  • Possessory Lien

    See Lien.