Florence, OR asked in Contracts for Oregon

Q: What kind of legal document/process is this?

I want to sell a portion of my future winnings to people. I keep calling it a "conditional lien," but that may not be the right term. I want an agreement between me and the purchaser that specifies that if, in the future, I acquire money by certain means then the lienholder is owed a percentage of it. For example, "If Daniel wins money by a lottery ticket, Lienholder shall be owed 25% of the value of winnings." I want it to be legally-binding. What am I talking about, specifically? A lien? Just a contract? How do I make it legally-binding? Is notarization enough? This won't be geographically restricted, I'd like something legal in at least the entire US, perhaps abroad.

Related Topics:

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.