Uniform Commercial Code (UCC) is a set of laws concerning commercial transactions, such as the sale of goods. It also covers secured transactions, where a lender gains the right to foreclose on a borrower’s collateral should the borrow default on the loan.
Tax lien is the government’s and state's legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s and state's interest in all your property, including real estate, personal property and financial assets.
Judgment lien is a court ruling that gives a creditor the right to take possession of a debtor's real property if the debtor fails to fulfill his or her contractual obligations.
Legal terms provided for information purposes only, not for the purpose of providing legal advice.