Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

hypothec

Read a random definition: ad filum aquae

A quick definition of hypothec:

Hypothec is a type of mortgage that a person gives to a creditor to secure a debt. This means that if the person cannot pay back the debt, the creditor can take possession of the property that was used as collateral for the loan. In some cases, like in Scottish law, a landlord can also use hypothec to secure rent payments from a tenant. Other types of hypothec include mariner's hypothec, which is a lien that a seaman or shipowner can assert against a ship for payment of wages or freight costs, and solicitor's hypothec, which is a legal agent's lien for costs in excess of the costs recovered from an opposing party.

A more thorough explanation:

Hypothec is a type of mortgage that is given to a creditor as security for a debt. It is a legal agreement that allows the creditor to take possession of the property if the debtor fails to repay the debt.

  • Landlord's Hypothec: In Scots law, a landlord has the right to secure their rent by holding onto the tenant's personal property, such as furniture and equipment, until the rent is paid. This is different from the English remedy of distress, which allows the landlord to seize the tenant's property without a court order.
  • Mariner's Hypothec: A seaman, freighter, or repairer can assert a lien against a ship for payment of wages or other sums due. This means that they have the right to take possession of the ship if they are not paid what they are owed.
  • Solicitor's Hypothec: A legal agent, such as a solicitor, can assert a lien for costs in excess of the costs recovered from an opposing party. This means that they can hold onto important documents, such as title deeds, until their outstanding account is paid.

These examples illustrate how hypothec can be used in different legal contexts to secure debts and protect the rights of creditors.

hypobolum | hypotheca

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
LSD+ is ad-free, with DMs, discounts, case briefs & more.