What’s an Equitable Lien?
What is an equitable lien? An equitable lien is a device created by North Carolina courts to protect people whose money is wrongfully spent by someone else to improve that other person’s property. Courts can give the victim a right to be paid from the sale of the property. This right to payment attaches specifically to the wrongfully improved or purchased property. FOR EXAMPLE, Andrew is Vicky’s power of attorney. Andrew wants to buy a new house, so he uses his power to take $50,000 from Vicky to help pay for it. However, Vicky never gave Andrew permission to take the money. Vicky now...
Read MoreWhat is a resulting Trust?
What is a resulting Trust? Our main law firm webpage discusses in greater detail the following type of equitable claim in litigation: “For example, Victor gives to Alvin $150,000.00 with the intention that Alvin use the money to buy Victor a house. Alvin takes the money from Victor and uses it to buy the house Victor wants. However, instead of turning over the house to Victor, Alvin puts the deed to the property is his own name keeps the house he bought with Victor’s funds. Alvin prevents Victor from being able to enjoy what should be Victor’s property. Alvin now holds the property in...
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