Bankruptcy invalidating liens Telugu sex chat
The lien is the interest that a creditor or other entity has in specific property, where ownership of the property is evidenced by a legal title document and can also apply to property described in a contract for a loan, where the lender exchanges a lien on the property for the loan, even if the loan was not used to buy the property.
A recording and perfecting of the lien on the title document can prevent the conveyance of a clear title to another, which, in most cases, will prevent the sale of the item.
Thus, to understand suspect transactions, it is necessary to define what insolvency means and when do we say the person is insolvent?
On the other hand, balance sheet test states that if its total liabilities (including the cost of liquidation) out weight the value of its assets and therefore the company’s assets are insufficient to discharge its debt.
A consensual lien (aka voluntary lien) is one that you consented to by agreement or contract.
If you miss payments, the creditor has the right to take possession of the collateral and sell it.
Bankruptcy law works with the assumption that debtor asset is insufficient to meet the demands of creditors.
In principle, a solvent debtor has every right to effect payments to any of his creditors since in this case there is no race to court room problem.
Asset protection requires that you understand how liens arise and what property is protected from the reach of your creditors by federal or state law.