Albuquerque New Mexico Attorney Charging Lien

• Category: New Mexico Attorneys
• State: New Mexico
• City: Albuquerque
• Control #: NM-027LRS
• Format: Word; Rich Text

Description

An attorney who obtains a judgment or settlement for his/her client can assert a "charging lien" against the fund obtained. A charging lien is a legal term applicable to Albuquerque, New Mexico attorneys which allows them to assert a claim against a client's settlement or judgment funds to secure payment for legal services rendered. This lien serves as a guarantee that the attorney will receive their rightful compensation for the work performed on behalf of their client. It essentially gives the attorney an interest in the client's recovery. In Albuquerque, New Mexico, there are primarily two types of attorney charging liens recognized: 1. Statutory Charging Lien: The statutory charging lien is governed by state law and is automatically imposed by statute once the attorney has provided legal services to the client. It applies to various legal matters, such as personal injury cases, divorce proceedings, contract disputes, and more. This type of lien allows the attorney to claim a specific percentage of the client's settlement or judgment amount to cover their fees if the client fails to fulfill their contractual obligations. 2. Contractual Charging Lien: A contractual charging lien, as the name suggests, is a lien created through an agreement between the attorney and the client. This lien is established in the attorney-client contract or engagement letter, wherein the client consents to granting the attorney a lien on their potential settlement or judgment. The terms and conditions of this lien can be negotiated and agreed upon before legal services are provided. It is important to note that in Albuquerque, New Mexico, attorneys are obligated to provide clients with written notice of any charging lien they intend to assert. This notice typically outlines the amount of fees owed, the basis for the lien, and the client's rights to contest or challenge the lien if they believe it to be unjust. Albuquerque New Mexico Attorney Charging Lien is a mechanism designed to protect the rights of both attorneys and clients. It ensures that attorneys are fairly compensated for their services while also enabling clients to retain legal representation without immediate payment. However, it is advisable for clients to thoroughly discuss and understand charging liens, whether statutory or contractual, before entering into any legal agreement. Seeking clarification from an experienced attorney is highly recommended avoiding any misunderstandings or disputes regarding fees and representation.

A charging lien is a legal term applicable to Albuquerque, New Mexico attorneys which allows them to assert a claim against a client's settlement or judgment funds to secure payment for legal services rendered. This lien serves as a guarantee that the attorney will receive their rightful compensation for the work performed on behalf of their client. It essentially gives the attorney an interest in the client's recovery. In Albuquerque, New Mexico, there are primarily two types of attorney charging liens recognized: 1. Statutory Charging Lien: The statutory charging lien is governed by state law and is automatically imposed by statute once the attorney has provided legal services to the client. It applies to various legal matters, such as personal injury cases, divorce proceedings, contract disputes, and more. This type of lien allows the attorney to claim a specific percentage of the client's settlement or judgment amount to cover their fees if the client fails to fulfill their contractual obligations. 2. Contractual Charging Lien: A contractual charging lien, as the name suggests, is a lien created through an agreement between the attorney and the client. This lien is established in the attorney-client contract or engagement letter, wherein the client consents to granting the attorney a lien on their potential settlement or judgment. The terms and conditions of this lien can be negotiated and agreed upon before legal services are provided. It is important to note that in Albuquerque, New Mexico, attorneys are obligated to provide clients with written notice of any charging lien they intend to assert. This notice typically outlines the amount of fees owed, the basis for the lien, and the client's rights to contest or challenge the lien if they believe it to be unjust. Albuquerque New Mexico Attorney Charging Lien is a mechanism designed to protect the rights of both attorneys and clients. It ensures that attorneys are fairly compensated for their services while also enabling clients to retain legal representation without immediate payment. However, it is advisable for clients to thoroughly discuss and understand charging liens, whether statutory or contractual, before entering into any legal agreement. Seeking clarification from an experienced attorney is highly recommended avoiding any misunderstandings or disputes regarding fees and representation.