A lien is a blame imposed upon explicit goods, by which it is made sanctuary for the presentation of an act, or in the law of property, any of various charges on exact property; and, if it is private property, the right to keep hold of the property as security for the payment for services, material, or money expended on that property. A common lien is a charge against all or any of the debtor's property as security for indebtedness. Liens are of more than a few classes. They may append to either the personal or actual property of a defaulter, and in the U.S. they are generally regulated by statute. The principal statutory liens are mechanics' liens, judgment liens, and tax liens. Laws governing mechanics' liens differ among the states, but in general they provide that a contractor who has furnished work or materials for the improvement of real property acquires a lien against the property for the value of the services or materials.
The creditor contractor protects his or her lien, against other creditors of the owner, by filing a notice of the claim with the proper authority in the county in which the property is situated. With respect to judgment liens, both federal and state court judgments in favor of successful litigants, known as judgment creditors, are liens on the property of the unsuccessful litigants, known as judgment debtors. Tax liens arise out of the failure of the taxpayer to pay federal, state, or local taxes, and the governmental claim is a lien against the property of the taxpayer. A mortgage gives rise to a lien on the property of the mortgagor (debtor) in favor of the mortgagee (creditor). (Frank Ching (2005)
A lien is discharged by expense of the declare of the creditor. If payment is......
