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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As verbs the difference between lease and lien is that lease is (chiefly dialectal) to gather or lease can be to tell lies; tell lies about; slander; calumniate or lease can be to release; let go; unloose or lease can be to operate or live in some proper
When you borrow money, the lender -- whether an individual or a bank --- usually wants to get repaid. Repayment is easier to enforce when the debt is linked to property, which creates a legal arrangement termed a lien. Even if you don't agree to a lien o
Buyers of real estate with an equitable lien are subject to it if they were given notice or had prior knowledge of it. If the recipient of real estate that has an equitable lien gives no compensation or value for the property, then the buyer is also subject to the lien. A bona fide ...
What is a mortgage lien? A mortgage lien is a legal claim to your property, which serves ascollateral— or real security — for your mortgage. This means that if you default or stop making payments on your mortgage, thelienpermits the lender to take possession of and sell your home to ...
A mechanic’s lien is a guarantee of payment to unpaid parties who have a security interest in a property. Thelienensures that the workmen are paid before anyone else in the event of aliquidation. The mechanic’s lien is based on labor or materials used to improve, maintain, or repair pr...
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...