What is a lien in civil law?

In Oregon, a lien is a legal claim on a person’s property granted to another party in order to secure the repayment of a debt. A lien essentially gives lenders an interest in the person’s property as long as the debt remains unpaid. Generally, a creditor obtains a lien by filing an official document with the court or another government agency that states the amount of the debt and the property to be secured by the lien. When a lien is granted, the debtor may not be able to sell or transfer the property until the debt is fully satisfied. Depending on the state, the creditor may be able to seize the property if the debt is not paid. In some cases, a creditor can release the lien voluntarily or through payment. The most common types of liens are mechanic’s liens, tax liens, home-equity liens, and judgment liens. Mechanic’s liens are issued on the property of a person who does not pay the contractor for a job they performed. Tax liens are the result of unpaid state or federal taxes. Home-equity liens are granted when the debtor fails to make payments on their mortgage loan. Lastly, judgment liens are issued when a judgment of money is issued in court to the creditor. In Oregon, liens will remain on a debtor’s property until the debt is repaid or the lien is otherwise removed. It is important that individuals understand the implications of having a lien on their property so they can protect their rights. If you think you may have a lien on your property, it is best to consult with a civil law attorney to learn about your options.

Related FAQs

What is a default judgment in civil law?
What is a settlement conference in civil law?
What is a discovery request in civil law?
What type of evidence is admissible in civil law?
What is an appeal in civil law?
What is a stipulation in civil law?
What is a stay in civil law?
What is the purpose of a civil trial?
What is a subpoena in civil law?
What is the difference between an injunction and an order in civil law?

Related Blog Posts

What Students Need to Know About Civil Law and Its Impact on Society - July 31, 2023
Understanding the Basics of Civil Law and Its Role in Business - August 7, 2023
Exploring the Principles of Civil Law - August 14, 2023
Learning How to Effectively Use Civil Laws - August 21, 2023
Facts About the Differences Between Civil and Criminal Law - August 28, 2023