Ch 30 Bankruptcy PDF

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Creditor’s Rights, Duties & Liabilities

Laws Assisting Creditors

LIENS •

Lien: An encumbrance on real property or personal property to secu to protect a claim for payment of a debt. It is a claim or charge on t property that must be satisfied before the property is available to sa claims of other creditors. •

Mechanic’s Lien: A lien on real property or personal property payment for work performed and materials furnished in the r improvement of real or personal property. Has priority over security interests unless a statute provides otherwise.

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Artisan’s Lien: A lien on personal property to ensure payment performed to repair, improve, and/or enhance the value of the property. Has priority over perfected security interests unless provides otherwise. It is possessory in nature. The leinholder maintain possession of the property.

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Innkeeper’s Lien: A possessory lien on the luggage, and conten of a hotel’ s guest for unpaid hotel charges.

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Judgment Lien: A lien obtained by judicial order in favor of a •

Writ of Attachment [4412]: A court order to seize and ta custody property of the debtor prior to the issuance of a...