Sentences with phrase «purpose of the lien»
«The purpose of the lien statute would be eviscerated if an inventor could just sell a valuable property right, one that was obtained by the attorney's work in the first instance, and pocket the proceeds.
http://legalblogwatch.typepad.com/ Not exact matches
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The purpose of the search is to make sure the buyer is purchasing a house from the legal owner and there are no liens, overdue special assessments, or other claims or outstanding restrictive covenants filed in the record, which would adversely affect the marketability or value of title.
In doing so, the borrower can take cash out of their equity to use for other purposes while preserving their first lien.
That incentive payment could be applied towards settling junior liens - so, if a junior lien - holder was playing hardball, holding out for more money in order to release a lien, the seller might be forced to use their incentive money for that purpose, and never actually see any of the cash.
Margin deposits, security interests, liens and collateral arrangements with respect to transactions involving options, futures contracts, short sales and other permitted investments and techniques are not deemed to be a mortgage, pledge or hypothecation of assets for purposes of this limitation.
A line of credit on a primary residence homestead property in Texas for the sole purpose of obtaining cash (including debt consolidation) or refinancing a prior Texas (a)(6) lien.
A line of credit in Texas for the sole purpose of refinancing (with no cash - out) an existing lien that is not a Texas (a)(6) lien under Section 50 (a)(6) of the Texas Constitution.
Product Information: A line of credit on a primary residence homestead property in Texas for the sole purpose of obtaining cash (including debt consolidation) or refinancing a prior Texas (a)(6) lien.
(ii) may insure, purchase, and make commitments to purchase, any debt instrument associated with the deployment of clean energy technologies (including instruments secured by liens or other collateral related to the funding of clean energy technology) for the purposes of enhancing the availability of private financing for clean energy technology deployments.
And the primary purpose of this three - month lien period is to protect the unit mortgagee (s).
App., 2013)(«In short, the lien allows the hospital to step into the shoes of the [injured person] for purposes of receiving payment from the [tortfeasor or the] tortfeasor's insurance company for economic damages represented by the hospital bill.»).
The cash surrender value of a life insurance policy is property for purposes of section 3670 of the Internal Revenue Code of 1939 (now section 6321 of the current Internal Revenue Code of 1986, as amended), imposing the Federal tax lien.
For purposes of this paragraph, items of public record relating to arrests, indictments, convictions, suits, tax liens, and outstanding judgments shall be considered up to date if the current public record status of the item at the time of the report is reported.
(1AB) In determining the value of any property for the purposes of subsection (1), any mortgage, lien, charge or other security over the property is to be disregarded.
Escrow accounts have been standard practice for years and have a solid purpose: They avoid situations where borrowers neglect to pay property taxes or hazard insurance premiums, opening the door to a government lien on the house or a loss of the lender's security interest in the event of a fire or severe damage.
The purpose of the search is to make sure the buyer is purchasing a house from the legal owner and there are no liens, overdue special assessments, or other claims or outstanding restrictive covenants filed in the record, which would adversely affect the marketability or value of title.
By law, California real estate is valued each year as of January 1 (lien date) for property tax purposes.
Under the HUD exemption, lenders need not provide the RESPA GFE and RESPA settlement statement when six prerequisites are satisfied: (1) The loan is secured by a subordinate lien; (2) the loan's purpose is to finance downpayment, closing costs, or similar homebuyer assistance, such as principal or interest subsidies, property rehabilitation assistance, energy efficiency assistance, or foreclosure avoidance or prevention; (3) interest is not charged on the loan; (4) repayment of the loan is forgiven or deferred subject to specified conditions; (5) total settlement costs do not exceed one percent of the loan amount and are limited to fees for recordation, application, and housing counseling; and (6) the loan recipient is provided at or before settlement with a written disclosure of the loan terms, repayment conditions, and costs of the loan.