statutory lien

statutory lien

A charge or claim upon property that arises by virtue of specific statutes that address the relationship between the property owner and the party given the ability to place the lien.A mechanics'and materialmen's lien is a statutory lien;a mortgage is a voluntary lien;and a lease giving the landlord rights in property located in the leased premises is a contractual lien. In bankruptcy,statutory liens are not enforceable but contractual and voluntary liens are.As a result,even if state statutes grant a landlord's lien,for example,the better practice is to also include those rights in the lease itself.
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The 'AA-' ULT GO bond rating at two notches above the district's IDR reflects the enhanced recovery prospects for GO bondholders afforded by a statutory lien on pledged property tax revenues.
The final rule also adds new reporting waivers for smaller plans and for plans that must file solely because of either a statutory lien that resulted from missed contributions of more than $1 million or outstanding minimum funding waivers that exceed that amount; both exemptions are permissible provided those situations were previously reported to the PBGC.
13) Arnold Matheny could have also filed for a charging lien in Preclude's litigation with Greenleaf, which would have been effective as of the date of the commencement of its involvement in the litigation, allowing its lien to relate back to a date prior to the statutory lien created by the second writ of garnishment.
The time period begins to run on the assessment date, commonly called the statutory lien date.
Accordingly, the lienholders in this case were not seeking to collect a debt, but seeking to enforce a statutory lien, a lien that only applied to the common fund.
The bonds are secured by a statutory lien and pledge on the trust estate, comprising income tax revenues generated in the district and received by the collection agent, trustee, or district in any fiscal year.
Lack of priority of the lien of the insured mortgage over any statutory lien.
Thus, the wife retained all proprietary rights in her claim, subject to a statutory lien held by the attorneys on any proceeds derived from that claim.
The security rating on the GO bonds, two notches above the IDR, reflects the enhanced recovery prospects provided by the statutory lien granted under state law.
43) However, failure to comply with these provisions does not invalidate a properly perfected statutory lien.
In response to a question, Bar Ethics Counsel Elizabeth Tarbert said there could be several situations not mentioned in Bar rules, such as a court order, a valid statutory lien, or when the lawyer has given a letter of protection, where a lawyer owes a duty to a third party.

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