What are the different types of liens?

A lien is a type of legal claim that allows a creditor to take ownership or control of property that belongs to a debtor, in order to secure payment for a debt. In the state of Oregon, there are a few different types of liens that creditors may pursue, including judicial liens, consensual liens, and statutory liens. Judicial liens are created when a court orders a debtor to pay a debt and allows the creditor to take control of the debtor’s property. This type of lien usually happens when a creditor takes legal action against a debtor who fails to make payment. Consensual liens, on the other hand, are created when a debtor agrees to a lien in order to secure payment for a debt. This is common when a debtor takes out a loan and grants the creditor the right to take control of certain assets in the event of a default. Finally, statutory liens are created by a state or federal law, allowing a creditor to take control of the debtor’s property without any prior agreement. This type of lien is commonly used for support payments and unpaid taxes. In Oregon, creditors may use one or more of these types of liens to secure payment for a debt. It is important for debtors to know their rights and understand the legal implications of a lien before taking action.

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What are the different types of liens?

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