equitable lien


Also found in: Legal.

equitable lien

A lien or charge on property arising because of some technical defect in a legal instrument such as a mortgage or because a court determines that the lien is only fair and just under the circumstances after considering all the facts.

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But, the equitable lien established and recognized as enforceable
In Rinker, the Florida Supreme Court articulated the basis for imposing an equitable lien under the theory of equitable estoppel: "[A] party may successfully maintain a suit under the theory of equitable estoppel only where there is proof of fraud, misrepresentation, or other affirmative deception.
The whole point of the equitable lien is to foreclose subsequent creditors.
It alleged breach of contract and sought money, to be sure, but it sought its recovery through a constructive trust or equitable lien on a specifically identified fund, not from the Sereboffs' assets generally, as would be the case with a contract action at law.
It is the bonding company that has the equitable lien in funds owed to the debtor by the owners.
In this case, the trust could have sought a remedy in the form of an order requiring the estate to pay to it a sum equal to the difference between the market value of the property and the amount paid for it by the family member, but not secured by an equitable lien.
One of the theories was that the lien waiver released Stovall's claim against the bond, thereby releasing funds held by the owner from an equitable lien by the bonding company.
608(2) to permit the personal representative to obtain an equitable lien for expenditures to preserve or protect the decedent's homestead real property until its homestead status had been determined.
The California Department of Corporations' press release states that the Department seeks, among other things, to obtain an equitable lien against Lloyd's premiums trust funds in the United States in the amount of $500 million, and that this is the amount attributable to California names.
The Supreme Court agreed with the lender's assertion that it was entitled to an equitable lien subrogated to the position of the prior mortgages noting that the former wife stood in no worse position and otherwise would have received a $930,000 windfall.