Lien is a right of any nature in the property of another, as security for the performance of some obligation of owner of the property.
3. A statutory lien is one created by statute. The commonest examples are mechanics liens and materialmen's liens to protect the claims of persons who are engaged in construction of buildings.
4. A maritime lien is lien is that placed upon a ship and all it equipment by the filing of a libel.
5. A judgement lien attaches to all the real property of the judgement debtor as soon as the judgement is filled in the manner provided by statue. The lien of an execution on personal attaches only upon levy.
An agricultural lien attaches to growing crops for loans made on the security of such crops.
1. A common law lien is one usually on personal property and depends on possession. It may be a particular lien for the satisfaction of an obligation in respect of the property held, as a lien for repair of property; or a general lien for obligations not connected with the property.
2. An equitable lien is one enforced in a court of equity, It may be on real or personal property and does not depend on possession. It will sometimes attach as soon as certain property comes into the hands of the obligor.
3. A statutory lien is one created by statute. The commonest examples are mechanics liens and materialmen's liens to protect the claims of persons who are engaged in construction of buildings.
4. A maritime lien is lien is that placed upon a ship and all it equipment by the filing of a libel.
5. A judgement lien attaches to all the real property of the judgement debtor as soon as the judgement is filled in the manner provided by statue. The lien of an execution on personal attaches only upon levy.
An agricultural lien attaches to growing crops for loans made on the security of such crops.
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