VA - Creditor's Rights - Intro

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Author:
richardlpeterson
ID:
128126
Filename:
VA - Creditor's Rights - Intro
Updated:
2012-01-16 09:32:15
Tags:
VA barbri
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Description:
VA - Creditor's Rights - Intro
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  1. General Creditors
    • creditors who have no lien of any type
    • can't force until get a lien
  2. Lien Creditors
    creditors who possess an interest in some specific property of the debtor
  3. Statutory lien creditor
    • creditor who obtains a lien on debtor's property by virtue of a statute
    • eg, there are two different kinds of mechanics liens
  4. Judicial lien creditor
    • creditor who obtains a lien on debtor's property by use of legal process
    • typically, this is the process of execution (obtain writ of execution)
  5. Consensual lien creditor
    • creditor who obtains a lien on debtor's property by virtue of the debtor's consent
    • eg, mortgages or Article 9 security interests

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