Lien: Difference between revisions
Amwelladmin (talk | contribs) Created page with "{{anat|Collateral}}{{t|Lien}}s are {{t|Security}} interests that usually arise by operation of the cold hard facts of life and without the need for any formal documentation. A..." |
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{{anat| | {{anat|security}}{{t|Lien}}s are {{t|Security}} interests that usually arise by operation of the cold hard facts of life and without the need for any formal documentation. A banker has a lien over your assets. A mechanic has a lien over your car, in that if you don’t pay your bill, you can’t have the car back. A custodian has a lien over your assets. You get the idea. | ||
Liens can be creatures of [[common law]] or [[statute]] (in which case they’re forms of {{tag|legal security}}) or they can be [[equitable security|equitable]]. | Liens can be creatures of [[common law]] or [[statute]] (in which case they’re forms of {{tag|legal security}}) or they can be [[equitable security|equitable]]. | ||
to have a legal lien you must have possession over your asset. To have an equitable lien, not so much. | to have a legal lien you must have possession over your asset. To have an equitable lien, not so much. | ||
Revision as of 18:23, 17 January 2018
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A word about credit risk mitigation
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Liens are Security interests that usually arise by operation of the cold hard facts of life and without the need for any formal documentation. A banker has a lien over your assets. A mechanic has a lien over your car, in that if you don’t pay your bill, you can’t have the car back. A custodian has a lien over your assets. You get the idea.
Liens can be creatures of common law or statute (in which case they’re forms of legal security) or they can be equitable.
to have a legal lien you must have possession over your asset. To have an equitable lien, not so much.