perfected lien


perfected lien
USA
In the context of bankruptcy, a lien satisfies the statutory requirements for obtaining priority over liens subject to the same requirements. State law generally governs these requirements. For example, certain lien types become perfected upon the filing of a UCC-1 financing statement or by possession of the underlying property subject to the lien.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Perfected Lien — A security interest in the collateral that is used to secure the performance of a debt that is protected from third party claims. A perfected lien for real property must be filed with the correct legal authority. Perfected liens for real estate… …   Investment dictionary

  • Lien — For other uses, see Lien (disambiguation). Property law …   Wikipedia

  • perfected — per·fect·ed /pər fek təd/ adj: completed in accordance with statutory procedure for giving notice and thereby having a status of priority over security interests that are the subject of such procedure at a later date or that are not the subject… …   Law dictionary

  • lien — /liy(a)n/ A claim, encumbrance, or charge on property for payment of some debt, obligation or duty. Sullins v. Sullins, 65 Wash.2d 283, 396 P.2d 886, 888. Qualified right of property which a creditor has in or over specific property of his debtor …   Black's law dictionary

  • lien — /liy(a)n/ A claim, encumbrance, or charge on property for payment of some debt, obligation or duty. Sullins v. Sullins, 65 Wash.2d 283, 396 P.2d 886, 888. Qualified right of property which a creditor has in or over specific property of his debtor …   Black's law dictionary

  • Perfected first lien — A first lien that is duly recorded with the cognizant governmental body so that the lender will be able to act on it should the borrower default. The New York Times Financial Glossary …   Financial and business terms

  • perfected first lien — A first attachment on an asset that is duly recorded with the relevant government body so that the lender will be able to act on it should the borrower default. Bloomberg Financial Dictionary …   Financial and business terms

  • Tax lien — A tax lien is a lien imposed on property by law to secure payment of taxes. Tax liens may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes.Tax liens in… …   Wikipedia

  • choate lien — see lien Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. choate lien …   Law dictionary

  • Mechanic's lien — A mechanic s lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property …   Wikipedia

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