Glossary entry

Croatian term or phrase:

prvenstveni red

English translation:

ranking / classification

Added to glossary by Kristina Kolic
Apr 4, 2008 12:00
16 yrs ago
9 viewers *
Croatian term

prvenstveni red

Croatian to English Other Real Estate zemljišno knjižni uložak
Temeljem čl.72 Zakona o zemljišnim knjigama zabilježuje se prvenstveni red radi osiguranja tražbine do najvišeg iznosa od 10.000.000,00 EUR-a u protuvrijednosti kuna
Proposed translations (English)
4 +2 ranking / classification
5 +1 priority
Change log

Apr 18, 2008 09:51: Kristina Kolic Created KOG entry

Proposed translations

+2
46 mins
Selected

ranking / classification

ranking or classification - referring to the order in which the claims will be collected
"Ranking - In Scotland this term is used to signify the order in which the debts of a bankrupt ought to be paid"
http://legal-dictionary.thefreedictionary.com/ranking

"Section 18-10 [of the Illinois Probate Act] sets forth a classification system for claims, from first class through seventh class. First class claims have the highest priority -- this class includes funeral and burial expenses, expenses of administration, and statutory custodial claims. "Debts due the United States" are third class claims in Illinois.

Two concepts are at work here: (1) all claims of a given class must be paid before moving to the next class of claims and (2) if the amount of property available to pay claims of a given class cannot pay all such claims in full, then the claims will be paid on a pro rata basis."
http://jas-law.typepad.com/death_and_taxes/estate_and_trust_...

"First class. Claims which by law have a specific lien on property to an amount not exceeding the value of such property"
http://www.ncga.state.nc.us/Sessions/2005/Bills/House/HTML/H...
Peer comment(s):

agree Romana (X)
1 hr
Hvala, Romana!
agree Natasa Djurovic
5 hrs
Hvala!
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4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
+1
2 hrs

priority

"Priority- the order of position or time. The priority of liens is generally determined by the chronological order in which the lien documents are recorded."
Peer comment(s):

agree Larisa Djuvelek-Ruggiero (X) : precedence
3 days 20 hrs
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