First-In-Time Rule
/ˌfɜːrst ɪn taɪm ruːl/
Definitions
- (n.) A legal principle prioritizing rights or claims based on the chronological order of their creation or recording, where earlier rights prevail over later ones.
Under the first-in-time rule, the creditor who registered their lien first has superior priority.
Forms
- first-in-time rule
Related terms
See also
Commentary
This rule is fundamental in property law and secured transactions to resolve conflicts between competing claims by time of inception.
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.