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Authorization for Lien and Sale for Nonpayment of Repair and / or Parts Charges

State:
Multi-State
Control #:
US-1282SB
Format:
Word; 
Rich Text
Instant download

Description

A lien is a charge on property for the payment or discharge of a particular debt having priority to the general debts of the owner of the property. Liens may be either general or specific. A specific lien is a charge on particular personal property for th Authorization for Lien and Sale for Nonpayment of Repair and / or Parts Charges is a legal document in which a person or company grants a lien holder the right to seize and sell assets if the debtor fails to pay for a repair or the cost of parts. This document is often used when a person or business is unable to pay for a repair or part due to financial hardship. The lien holder is then able to collect the unpaid costs by selling the asset. There are two main types of Authorization for Lien and Sale for Nonpayment of Repair and / or Parts Charges: voluntary and involuntary. A voluntary lien and sale is when the debtor gives permission for the lien to be placed on their assets and agrees to the terms of the sale. An involuntary lien and sale is when the lien is placed on the assets without the consent of the debtor and is usually done through a court order.

Authorization for Lien and Sale for Nonpayment of Repair and / or Parts Charges is a legal document in which a person or company grants a lien holder the right to seize and sell assets if the debtor fails to pay for a repair or the cost of parts. This document is often used when a person or business is unable to pay for a repair or part due to financial hardship. The lien holder is then able to collect the unpaid costs by selling the asset. There are two main types of Authorization for Lien and Sale for Nonpayment of Repair and / or Parts Charges: voluntary and involuntary. A voluntary lien and sale is when the debtor gives permission for the lien to be placed on their assets and agrees to the terms of the sale. An involuntary lien and sale is when the lien is placed on the assets without the consent of the debtor and is usually done through a court order.

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Authorization for Lien and Sale for Nonpayment of Repair and / or Parts Charges