(a) Upon the making of a general assignment for the benefit of creditors that terminates a lien under this chapter, the assignee is subrogated to the rights of the plaintiff under the temporary protective order or attachment.

(b) Upon the filing of a petition commencing a case under Title 11 of the United States Code (Bankruptcy), a lien terminated pursuant to this chapter is preserved for the benefit of the estate.

Terms Used In California Code of Civil Procedure 493.060

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • general assignment for the benefit of creditors: means an assignment which satisfies all of the following requirements:

    California Code of Civil Procedure 493.010

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Plaintiff: The person who files the complaint in a civil lawsuit.

(Amended by Stats. 1979, Ch. 177.)

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