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LSDefine

Simple English definitions for legal terms

lien jurisdiction

Read a random definition: lex Poetelia

A quick definition of lien jurisdiction:

A lien jurisdiction is a legal concept that means when someone takes out a mortgage on a property, they only have a right to the property as a lien, which is like a claim on the property, until they pay off the mortgage. The person who owns the property still has legal ownership of the property unless the mortgage company forecloses on the property. Most states in America follow this concept, which is called lien theory. This is different from title theory, where the mortgage company has legal ownership of the property until the mortgage is paid off.

A more thorough explanation:

Definition: Lien jurisdiction refers to the idea that a mortgage is similar to a lien. This means that the mortgagee (lender) only has a claim on the property, and the mortgagor (borrower) retains both legal and equitable title unless a valid foreclosure occurs. Most American states have adopted this theory, and they are commonly referred to as lien states, lien jurisdictions, or lien-theory jurisdictions. This is in contrast to title theory, where the lender has legal title to the property until the mortgage is paid off.

Examples: If a homeowner in a lien jurisdiction defaults on their mortgage, the lender can only foreclose on the property if they follow the proper legal procedures. The homeowner still has legal and equitable title to the property until the foreclosure is complete. In contrast, in a title theory state, the lender has legal title to the property until the mortgage is paid off, and the borrower only has equitable title.

Explanation: The concept of lien jurisdiction is important because it affects the rights of both the lender and the borrower in a mortgage agreement. In a lien jurisdiction, the borrower has more rights and protections, as they retain legal and equitable title to the property until a valid foreclosure occurs. This means that the lender cannot simply take possession of the property without following proper legal procedures. The examples illustrate how lien jurisdiction works in practice and how it differs from title theory.

lienholder | lien of a covenant

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Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
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There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
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
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