A car lien is a legal claim on a vehicle that protects lenders’ money. It happens when you get a car title loan or finance a car purchase. The lender gets a legal right to the vehicle until you pay off the debt. Knowing about a lien on a car is key to understanding car financing...
Car liens, titles & releases can all be part of the car buying process. Learn more about what each term means and when to expect to find them when buying a car.
If you took out a loan to purchase a car, it's likely that there will be a lien on your car. Read on to learn about what a lien is and more!
A court order is a legal document in which a court orders a person do to or not do something, sets a court date, or legally...
Until the debt is paid, the landowner does not own a clear title. Originally, a mechanic's lien was almost exclusively sought out by an actual mechanic. If an owner of an automobile contracted for repair services and failed to pay the bill, the mechanic could place a lien on the car's...
Consensual liens are those you agree or consent to when you purchase something through financing. Taking a lien on a car loan, with the car as collateral, is an example. Statutory or non-consensual liens are obtained through a court order to put a claim on an asset for unpaid debt. Statu...
A lien is a legal claim or a "hold" on some type of property, whether personal or real property, making it collateral against money or services owed to another person or entity. Liens usually exist in situations such as second mortgages, loans against vehicle titles or money loaned against ...
A lien is a legal claim or a "hold" on some type of property, whether personal or real property, making it collateral against money or services owed to another person or entity. Liens usually exist in situations such as second mortgages, loans against vehicle titles or money loaned against ...
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A lien is a claim that one person or other entity has over the property of another as security for the payment of a debt. Liens can be either voluntary or involuntary. A voluntary lien is contractual or consensual, meaning that the lien is created by an action taken by the debtor, such...