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An equitable lien exists independently of possession it may bind property not in possession at the time the obligation incurred but it cannot avail against the buyer of a legal estate for value without notice of the lien.
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Is a mechanics lien voluntary or involuntary?
Involuntary. "a mechanic's lien is an involuntary, statutory, special lien, whereas a mortgage is a voluntary, equitable, special lien." source: http://www.realtown.com/words/lien ---------------------- Your welcome :)
Is Nevada a title theory state or a lien theory state?
Nevada is a lien theory state. In "title theory" states, actual "legal title" to the property temporarily passes to a trustee to secure the debt. The borrower (grantor), retains possession rights and "equitable title" and has full use of the property for the mortgage term. When the loan is paid off, legal title is restored without the necessity of a reconveyance. In "lien theory" states, the lender (mortgagee) places a "lien" on the mortgaged real property while the borrower retains both "equitable" and "legal" title.
Why would some one put a lien on their own home?
A person might place a lien on their own home if they were misinformed. The lien would be null and void. For a creditor, a lien creates an equitable interest in real property owned by another party. That other party owns the legal interest in the property. If a peron who owns the legal interest in property recorded a lien the two "interests" would "merge" in that same person and the lien would be nullified.
When are remedies applied in business law?
Remedies of quasi-contract, constructive trust, equitable lien, and reformation must be applied to redress enrichment secured by tort, part performance of contract, duress, or mistake.
Are Laws are classified as procedural and equitable?
No, laws are not procedural or equitable
When was Palais Equitable created?
Palais Equitable was created in 1891.
When was Scottish Equitable created?
Scottish Equitable was created in 1831.
What is the minimum amount to place a lien on someone's home?
First to place a lien you should know how to do the procedure. A lien can be placed on a property for a variety of reasons. If a person is applying for a mortgage or refinancing, he may allow for a lien to be placed on his property to receive the financing. Also, a lien can be placed on property due to unpaid federal and state taxes, unpaid child support, divorce and many other cases in which the debtor does not pay a debt. As with any legal matter, it might be best to consult an attorney, but it's possible to file a lien yourself. (Answer is from http://www.ehow.com/how_4815511_place-lien-property.html) 2nd, the minimum time depends on local laws and regulations. Basically, in the common law a lien also remains on the property and it is not extinguished by alienation of the property; liens may be real or equitable.
Does a contract for deed constitute legal or equitable title?
Equitable.Equitable.Equitable.Equitable.
What is the meaning behind the word equitable?
Equitable means fair and just, implying the distribution of resources or opportunities in a way that is impartial and unbiased. It is often used to describe a system or process that aims to ensure equality and fairness for all involved.
What is the meaning of equitable?
Possessing or exhibiting equity; according to natural right or natural justice; marked by a due consideration for what is fair, unbiased, or impartial; just; as an equitable decision; an equitable distribution of an estate; equitable men., That can be sustained or made available or effective in a court of equity, or upon principles of equity jurisprudence; as, an equitable estate; equitable assets, assignment, mortgage, etc.
Can you write short notes on equitable premium?
Yes you can because its equitable premium
