Lien

What Does Lien Mean?
When a creditor or bank has the right to sell the mortgaged or collateral property of those who fail to meet the obligations of a loan contract.

Investopedia explains Lien
This is typically enforced under provincial or state laws.

Related Terms

Blanket Lien
Clear Title
Collateral
Creditor
Encumbrance
Liquidation
Other Real Estate Owned - OREO
Second Lien Debt
Secured Creditor
Trust Receipt
More Related Terms

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