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Simple English definitions for legal terms

rule of marshaling liens

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A quick definition of rule of marshaling liens:

The rule of marshaling liens, also known as the inverse-order-of-alienation doctrine, is a principle that allows a creditor to collect on a mortgage or lien on a property sold off in successive parcels. The creditor can collect first from the parcel still held by the original owner, then from the parcel sold last, then next to last, and so on until the amount owed has been satisfied. This rule helps ensure that creditors are able to collect what they are owed, even if the property has been sold off in parts.

A more thorough explanation:

Definition: The rule of marshaling liens, also known as the inverse-order-of-alienation doctrine, is a principle that allows a creditor to collect on a mortgage or lien on a property sold off in successive parcels. The creditor can collect first from the parcel still held by the original owner, then from the parcel sold last, then next to last, and so on until the amount has been satisfied.

Example: Let's say John owns a property with three parcels, A, B, and C. He takes out a mortgage on the entire property but later sells parcel A to Sarah and parcel B to Tom. John defaults on the mortgage, and the creditor wants to collect the outstanding amount. According to the rule of marshaling liens, the creditor can first collect from parcel C, which is still held by John, then from parcel B, which was sold last, and finally from parcel A, which was sold first.

This example illustrates how the rule of marshaling liens works in practice. It allows the creditor to collect the outstanding amount in a specific order, which is fair to all parties involved.

rule of marshaling assets | rule of marshaling remedies

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16:47
i'd reach out to their admissions and check up on it
I did 2x and they said "The vast majority of candidates who have submitted their complete application by our deadline will be notified by the last day of April"
like kinda fucked
16:50
ugh that's so annoying
law schools that ghost should give you your money back
or reject
like man GIVE IT BACK!!!!
ClassyPleasantHeron
16:56
Schools explicitly asking applicants to retake the LSAT are TTTs pretending to be 2nd tier.
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like man oklahoma more like oklahowaboutyoueatmyshoe
me when that person on reddit said UofU wave and it's.... 3 people
help who just posted that right after I started bitching in chat
my heart fell straight into my ass mind u
and i just got a fucking app status tracker update... not for UofU... my BP is so spiked rn
QuarrelsomeTurkey
18:29
does anyone know if bu ever releases after 5 pm
Lol @jupitersmoons It feels like UofU is screwing with us haha
fr like I know it"s Mountain Time but bestie we have less than half an hour before typical EOD
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Real
19:17
new COAs are out
19:37
Anyone know how long it takes to get aid package after getting admitted to UChicago or Northwestern?
I’d ask in the t14 chat bc lol it may be a bit until you can get someone who can answer that question here
21:19
@syddak: Oof tough spot. Congrats on the As. Did either indicate either via email/mail that they would be following up with aid, and if so, did they provide a time frame? It may be acceptable to email them and indicate seat deposits are fast approaching and you are curious if you can expect further info (aid) from the school to aid u in ur decision..
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@UnderRepresentedTryhard: that’s a greater than sign. Meaning outside t14
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Schools>t14
IrishDinosaur
13:38
I'm convinced USC doesn't really exist
IrishDinosaur
13:38
it's an elaborate hoax
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babycakes
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u such a crazy flexer
the fellas were impressed by the r less cycle
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