First-In-Time
/ˌfɜːrst ɪn ˈtaɪm/
Definitions
- (adj.) Relating to a principle giving priority to the first recorded or created interest in property or rights over later claims.
Under the first-in-time rule, the earliest lien recorded on the property has priority over subsequent liens.
- (n.) The doctrine or rule that the first legally established interest or right prevails when competing claims arise.
The court applied the first-in-time doctrine to determine the rightful claimant to the disputed asset.
Forms
- first-in-time
Related terms
See also
Commentary
Often used in property and secured transactions law, emphasizing the importance of timing in establishing legal rights; drafters should clearly specify the date or event used to determine 'first' to avoid dispute.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.