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LSDefine

Simple English definitions for legal terms

priority

Read a random definition: expected/intended exclusion

A quick definition of priority:

Priority: The right to be first in line before others. This means that certain people or organizations have the right to collect money or property before others. For example, in bankruptcy cases, the government, people who won court cases, and those who have secured loans get paid before other creditors. Mortgages, deeds of trust, and liens also have priority based on when they were recorded.

A more thorough explanation:

Definition: The right to be ahead of the rights or claims of others.

In bankruptcy law, certain creditors have priority over others when it comes to collecting debts. These include:

  • Taxing authorities
  • Holders of court judgments
  • Secured creditors
  • Bankruptcy trustees
  • Bankruptcy attorneys

For example, if a business goes bankrupt and owes money to both the IRS and a supplier, the IRS would have priority and be paid first.

Priority can also apply to mortgages, deeds of trusts, or liens. These are given priority in the order they were recorded. For instance, if two people have liens on a property, the one who recorded their lien first would have priority over the second.

Overall, priority means that certain people or entities have the right to be paid or have their claims addressed before others.

Prior(s) | priority date

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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