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Simple English definitions for legal terms

hypothetical lien creditor

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A quick definition of hypothetical lien creditor:

A hypothetical lien creditor is someone who might have a claim on someone else's property, but they haven't actually made a claim yet. They are like a pretend creditor who could become real if they decide to make a claim. This term is often used in bankruptcy cases to figure out who has a right to the debtor's property.

A more thorough explanation:

Definition: A hypothetical lien creditor is a type of creditor who is considered in bankruptcy proceedings. They are a creditor who is deemed to have a lien on the debtor's property, even if they do not actually have one. This is used to determine the priority of claims in bankruptcy proceedings.

Example: For example, if a debtor files for bankruptcy and has multiple creditors, the court will determine the priority of claims. A hypothetical lien creditor is a creditor who is deemed to have a lien on the debtor's property, even if they do not actually have one. This means that they will be given priority over other unsecured creditors, but not over secured creditors who actually have a lien on the property.

Explanation: The example illustrates how a hypothetical lien creditor is used in bankruptcy proceedings to determine the priority of claims. Even though the creditor does not actually have a lien on the property, they are still given priority over other unsecured creditors because they are deemed to have a lien. This helps to ensure that creditors are paid in a fair and orderly manner during bankruptcy proceedings.

hypothetical creditor | hypothetical negotiation

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9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
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