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No, a 'lien' is a claim against some sort of asset, where what ever that is, where one has standing. An asset is defined, like just about everything else, by the jurisdiction. It mainly means, something that has some worth and is more or less not changing but by the market place valuation. (In today's market that means about ever 15 minutes or so.) On the other hand a 'caveat' is a very old legal word which more or less means that a formal statment has been made to a court, which demands that the court hold off on what it's been doing until the questions which have been raised get answered by a 'hearing' before the court. The term generally arrises in probate court and deals generally with wills and estates and such in the courts which deal with 'estates' and such. (one says 'such' because many states dont really reconize the esistance of 'estates' as legal entities. It's a shorthand word to describe a bunch of stuff to a court which asserts that something needs to be held off on until a diffierent opinion can be considered in a formal proceeding.
What else can I help you with?
Which of these most nearly define caveat emptor?
Caveat emptor is Latin for "Let the buyer beware." It means that in a contract matter where one person is buying something from another person, the buyer has the responsibility to make sure what he is buying is in good shape. Once he takes delivery and the money changes hands, the buyer can't complain that the item purchased is not good, unless there has been some fraud or deception by the seller. This is why when buying houses, a buyer, does a title search, a survey a home inspection and things like that. The buyer has to be sure there are no problems with what he is buying.
What is the difference between a lien and a judgment?
A judgment for the most part, is a monetary award. It can be collected in various ways, garnishment of wages and/or bank accounts, is an example. It can, however take the form of a lien. A lien is applied to real property, such as a house. The property cannot be sold, borrowed against or ownership transferred until the debt that created the lien is paid in full. The lien holder can, in some cases force the sale of the property to satisfy the debt. This depends on how the property is titled, Tenants In Common, Joint Tenancy, etc.. A property that is titled Tenancy by the Entirety cannot be sold or have a lien enforced against it, unless there are joint debtors. Both will stay on your CR until they are paid and the SOL expires.
What is a caviot?
If you mean caveat, it is a warning about the nature of an agreement.A common usage, caveat emptor ('buyer beware'), warns that in making a purchase, the buyer must look out for his own interests.So for example, in buying a used car which is being sold 'as is' (without warranty), it is up to the buyer to examine it to determine whether there are defects affecting the purchase price or desirability of the car in question.
Can a minor hold the lien on real-estate property?
In most cases, a minor cannot hold a lien on real estate property because they lack the legal capacity to enter into a binding contract. However, a guardian or parent may be able to hold the lien on behalf of the minor until they reach the age of majority.
How long will a lien on real property last in Texas?
Liens do not expire, they have to be settled to the satisfaction of the lien holder or lifted by the court because they are deemed invalid. That's not true. Certain liens do expire, i.e., Abstracts of Judgment, Mechanic's Liens, Construction Liens, etc. all expire after a certain amount of time unless they are Renewed and Extended by the person/company filing the lien. Abstracts of Judgment, for example, expire after 10 years if not renewed. There should be Releases filed for these types of liens when they are paid in full, but that doesn't always happen.
Is a levy the same thing as a lien?
No. Levy has different meanings.To levy is to impose a tax or fine. A levyrefers to the act of a seizure of property in execution of a judgment by an authority such as a sheriff.A lien is a right or interest of a creditor in another’s property. For example, a mortgage, income tax lien, property tax lien or an attachment.
Is a lien the same as a loan?
No, a lien is not the same as a loan. A lien is a legal claim on an asset as security for a debt, while a loan is money borrowed from a lender that must be repaid with interest.
When is a lien a good thing for a homeowner?
A lien means you owe someone money and they have a claim against your property until the debt is paid. A voluntary lien such as a mortgage can be considered a good thing since you initiated that lien process and benefitted from it by being able to purchase the property with a loan from the bank. Involuntary liens such as tax liens or judgment liens are not a good thing.
What is difference between state tax lien and tax warrants?
They are essentially the same thing. Some states call them liens, some call them warrants.
What if a lien is on your house?
You can not sell your house or if you die your home will go to the people who have a lien on your home.The best thing to do is to pay off the lien which is usually someone or a bank you owe money.
Can IRS file a tax lien at the same time garnishing the wages?
Yes, they can place a tax lien at the same time. That helps guarantee that they get paid.
Is having a lien on your property a bad thing?
Having a lien on your property is generally considered a negative thing because it means that there is a legal claim against your property for an unpaid debt or obligation. This can affect your ability to sell or refinance the property until the lien is resolved.
Is a lien the same as a claim?
A lien is a claim against the value of property, such as a house or a car. The property cannot legally be sold or transferred without settling the lien.
What is a NT state tax lien what does NT stand for im in san Diego ca?
NT stands for Northern Territory . . . .i belive. lol i was wondering the same thing!
Can a involuntary lien lead to wage garnishment?
No. The lien holder would have to go to court and ask for a garnishment. He can keep the lien at the same time until all the amount is paid.
How do you use the word caveat?
A caveat can be a warning; or a qualification or exception. She gave me her ice cream cone without caveat. (without qualification or exception)
What are the lien holder right's to the vehicle once the owner is decased?
The same as before they died. They still hold the lien and it must be satisfied.
