What (who) is lienor - definition

SECURITY ON PROPERTY OR DEBT

Liens; Equitable lien; Lienor; Lienee; Floating lien; Retaining lien; Lienholder; Subject-to; First lien; Lienholders; Charging lien; Inchoate lien; Contractual lien; Proprietary lien

lienor

n. a person who holds a lien on another's property or funds. See also: lien

lien

n. any official claim or charge against property or funds for payment of a debt or an amount owed for services rendered. A lien is usually a formal document signed by the party to whom money is owed and sometimes by the debtor who agrees to the amount due. A lien carries with it the right to sell property, if necessary, to obtain the money. A mortgage or a deed of trust is a form of lien, and any lien against real property must be recorded with the County Recorder to be enforceable, including an abstract of judgment which turns a judgment into a lien against the judgment debtor's property. There are numerous types of liens including: a mechanic's lien against the real property upon which a workman, contractor or supplier has provided work or materials, an attorney's lien for fees to be paid from funds recovered by his/her efforts, a medical lien for medical bills to be paid from funds recovered for an injury, a landlord's lien against a tenant's property for unpaid rent or damages, a tax lien to enforce the government's claim of unpaid taxes, or the security agreement (UCC-1) authorized by the Uniform Commercial Code. Most liens are enforceable in the order in which they were recorded or filed (in the case of security agreements), except tax liens, which have priority over the private citizen's claim. See also: abstract of judgment deed of trust equitable lien judgment debtor landlord's lien mechanic's lien mortgage

lien

[li:n, 'li:?n, 'l???n]

¦ noun Law a right to keep possession of property belonging to another person until a debt owed by that person is discharged.

Origin

C16: from Fr., via OFr. loien from L. ligamen 'bond'.

Wikipedia

Lien

A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee and the person who has the benefit of the lien is referred to as the lienor or lien holder.

The etymological root is Anglo-French lien or loyen, meaning "bond", "restraint", from Latin ligamen, from ligare "to bind".

In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of mortgage or charge. In the US, a lien characteristically refers to nonpossessory security interests (see generally: Security interest § Types).

In other common-law countries, the term lien refers to a very specific type of security interest, being a passive right to retain (but not sell) property until the debt or other obligation is discharged. In contrast to the usage of the term in the US, in other countries it refers to a purely possessory form of security interest; indeed, when possession of the property is lost, the lien is released. However, common-law countries also recognize a slightly anomalous form of security interest called an "equitable lien" which arises in certain rare instances.

Despite their differences in terminology and application, there are some similarities between liens in the US and elsewhere in the common-law world.

https://en.wikipedia.org/wiki/Lien