Lien

Definition

The lender’s right to claim the borrower’s property in the event the borrower defaults.

If there is more than one lien, the claim of the lender holding the first lien will be satisfied before the claim of the lender holding the second lien, which in turn will be satisfied before the claim of a lender holding a third lien, etc.

Related Terms

Other terms related to 'Lien' starting with the letter 'L'

Lead Generation site, Lock jumper, Late payment, Loan to value ratio, Loan discount fee

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