Judgment lien creditor definition

Judgment lien creditor means a person who obtains a valid judgment of a court of record for recovery of specific property or a sum certain of money, and who in the case of a recovery of money, has a perfected lien under the judgment on the property involved. A judgment lien does not include inchoate liens such as attachment or garnishment liens until they ripen into a judgment. A judgment lien does not include the determination or assessment of a quasi-judicial authority, such as a state or federal taxing authority.
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Examples of Judgment lien creditor in a sentence

  • The term also includes the con- sideration in a transaction in which the purchaser has not completed per- formance of an obligation, such as the consideration in an installment pur- chase contract where the purchaser has not completed the installment pay- ments.(g) Judgment lien creditor.

  • These abnormalities could have had the potential to invalidate numerous corporate actions taken in the interim.

  • Judgment lien creditor or in the case suspend a security interest in non-fixture real.

  • Th e t e r m a lso i n cl u des t h e co n- side ra t io n i n a t ran s a c t io n i n w h ic h t h e p ur c ha se r ha s n o t co m ple t ed pe r - fo r m an ce of an oblig a t io n , s u c h a s t h e co n side ra t io n i n an i n s t a ll m e n t p ur- c ha se co n t ra c t w h e r e t h e p ur c ha se r ha s n o t co m ple t ed t h e i n s t a ll m e n t p ay- m e n t s.( g) Judgment lien creditor.

Related to Judgment lien creditor

  • judgment creditor means the person in whose favour the judgment was given, and includes any person in whom the rights under the judgment have become vested by succession or assignment or otherwise;

  • judgment debtor means any person against whom a decree has been passed or an order capable of execution has been made;