Oklahoma Verified Complaint to Confirm
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We protect your documents and personal data by following strict security and privacy standards.
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FAQ
Equitable lien. n. a lien on property imposed by a court in order to achieve fairness, particularly when someone has possession of property which he/she holds for another.
Equitable liens are created when there is no adequate remedy at law2 for a breach of contract or other harm, which usually means a money judgment is impractical or impossible.
In title theory states, a lender holds the actual legal title to a piece of real estate for the life of the loan while the borrower/mortgagor holds the equitable title.
An equitable lien differs from a common law lien in that a common law lien is founded on possession and, except as modified by statute, merely confers a right to detain the property until payment, whereas an equitable lien, which exists quite irrespective of possession confers on the holder the right to a judicial sale
An equitable lien is a claim on a wrongdoer's property that is placed by a court of equity, or through an equivalent legal proceeding.A common example of a situation where an equitable lien might be appropriate involves the embezzlement of the proceeds from a trust by a trust administrator or trustee.
