first lien
A lien that takes priority over all other charges or encumbrances on the same property and that must be satisfied before other charges may share in proceeds from the property’s sale.
Search Results for: first lien
second lien
second lien 第二顺位优先权 在同一财产上形成的仅次于第一顺位优先权〔first lien〕的优先权。变卖该财产的收益在满足第一顺位优先权后，即应满足第二顺位优先权。 (→second mortgage)
inverse order of alienation doctrine
inverse-order-of-alienation doctrine. The principle that if one has not collected on the mortgage or lien on a property sold off in successive parcels, one may collect first from the parcel still held by the original owner, then from the parcel sold last, then next to last, and so on until the amount has been satisfied.
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prior lien
A lien that is superior to one or more other liens on the same property, usu. because it was perfected first. — Also termed priority lien.
second lien
A lien that is next in rank after a first lien on the same property and therefore is next entitled to satisfaction out of the proceeds from the property’s sale.
attachment lien
A lien on property seized by prejudgment attachment. • Such a lien is initially inchoate but becomes final and perfected upon entry of a judgment for the attaching creditor and relates back to the date when the lien first arose. — Also termed lien of attachment. See ATTACHMENT. [Cases: Attachment 177; Federal Civil Procedure 589.
first money in， first money out
first money in， first money out (资金的)先进先出法 是一项用以确定银行对某项不断发生存取活动的银行存款的留置权是否存在的规则。根据该项规则，银行的某一特定信贷额度并不被视为已经动用，直到存款人提取一笔大于信贷额设定之前的原账户余额的存款，并且当存款人的提款额等于原账户余额与信贷额度之和时，该信贷额才算使用完毕。(→banker’s lien)
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subordination clause
subordination clause. 1. In a governing document, a clause that explicitly subjects its provisions to those in a higher-ranking document. 2. A covenant in a junior mortgage enabling the first lien to keep its priority in case of renewal or refinancing. [Cases: Mortgages 159. C.J.S. Mortgages §§ 204, 207, 213, 215.]
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tack
tack, n. Scots law. A deed creating a lease of land or other immovable property for an annual rent payable in money, services, or fruits produced on the land. • The lessee may be referred to as a tacksman or tackswoman. — tack, vb. tack, vb. 1. To add (one’s own period of land possession)