A legal claim against a person's property, such as a car or a house, as security for a debt. A lien (pronounced "lean") may be placed by a contractor who did work on your house or a mechanic who repaired your car and didn't get paid. The property cannot be sold without paying the lien. Tax liens can remain on your credit report indefinitely if left unpaid or for 15 years from the date paid.
A right, given by law, whereby a creditor may satisfy a debt out of the proceeds of the sale of real or personal property belonging to the debtor; an encumbrance, usually naming property as security for payment of a debt or for the discharge of an obligation.
A claim attached to a property owned by a judgment debtor. It prevents sale, transfer of title or refinancing of the property until the debt is satisfied.
A creditor's claim against property. A junior lien is a lien that is outranked by another lien. A senior lien is an interest in property having priority over other interests as to payment, not necessarily an interest which has existed longer than others.
An encumbrance upon property, usually as security for a debt or obligation.
A form of encumbrance which usually makes property security for the payment of a debt or discharge of an obligation. Examples would include: judgements, taxes, mortgages, deeds of trust, etc.
An Equitable Lien is an equitable right conferred by law to one person to a charge upon the real property of another until certain specific claims are satisfied. The holder of an equitable lien is entitled to judicial sale but not the right of foreclosure.
A legal claim against a property, such as a mortgage or a workman's claim. In general, liens must be paid off prior to title transfer.
A right of encumbrance affecting any property, as security for debt or a charge.
A right given by law or agreement to a creditor to have a debt or charge satisfied out of the real or personal property belonging to the debtor, usually requiring foreclosure and sale for enforcement.
A charge against property making it security for the payment of a debt, judgment, mortgage, or taxes; it is a type of encumbrance. A specific lien is against certain property only. A general lien is against all of the property owned by the debtor.
To secure a loan, a lender may put a "lien" or claim on an asset owned by the borrower. If that asset is sold, the lender must be compensated for this claim.
claim to some property that a lender attaches to a borrower. [D02955] PMDT
A claim upon real or personal property for the satisfaction of a debt or discharge of an obligation on which collateral has been pledged. The debts are known as secured debts. Mortgages, automobile loans and debts on furniture are examples of secured debts.
A charge or claim over an asset, often for security as a loan.
A legal method which enables CFC to take and sell or hold the property of a debtor, specifically, a noncustodial parent or obligor, as payment for a debt.
An encumbrance or legal burden upon property.
Any sort of charge or encumbrance against an item of property that secures the payment of a debt.
A security interest in one or more assets that lenders hold in exchange for secured debt financing.
A legal claim against another person's property as security for a debt. A lien does not convey ownership of the property, but gives the lien holder a right to have his or her debt satisfied out of the proceeds of the property if the debt is not otherwise paid.
A claim asserted against another party's property to satisfy a judgment
The right to take assets to cover an unpaid debt. See Prior Lien.
Right of a secured creditor to claim a specific item of property if a debt is not paid.
An interest or encumbrance held by a creditor in a debtor's real or personal property for the satisfaction of a debt. The lien may arise as a result of a consensual contract between the debtor and the creditor such as a security agreement or a mortgage. Alternatively, liens may be established by courts or by statutes. See consensual lien, judicial lien, and statutory lien.
Legal claim against another person's property as security for a debt, lasting until the debt has been paid.
A legal claim against a property to secure payment for monies owed.
A legal claim upon real or personal property to satisfy a debt or obligation; a mortgage.
The finance company's security interest in your vehicle.
This is the legal right to hold onto a piece of intangible property that secures someone's debt on personal or real property. If the person or company owing the debt defaults, the property can be taken or sold.
The right to keep a debtor's property from being sold or transferred until s/he pays what s/he owes. And the right to sell the property to pay a debt.
A lien is the right to keep possession of something, owned by someone who owes a debt, until the debt has been settled.
A legal hold or claim of one person on the property of another or security for a debt.
A legal claim by one person or company against another's property as security for money owed.
A security interest that attaches to property. Should the property be sold, this gives the government or other claimant a right to the proceeds in an amount necessary to satisfy the lien. For example, a taxing authority may file a lien against the property for unpaid real estate taxes. See also mechanic's lien.
A charge over an asset, or the right to hold another party's assets as security for th at par ty's performance of an obligation.
A claim, charge, or encumbrance on property as a security for the payment of a debt.
a claim or hold that one entity has upon a property that does not belong to them.In many cases, a lien is used as a security.
A claim against a property of another as security for a debt or obligation.
A claim upon a piece of property for the payment o... more
A legal claim against property for payment of a debt. Liens must be paid or settled before property can be sold because they cloud the legal title.
Legal right to hold property of another party or to have it sold or applied in payment of a claim.
A right, hold, or claim against specific property as security for a debt.
The right of one person, usually a creditor, to keep possession of or control of, the property of another for their purpose of satisfying a debt.
An encumbrance on property which act as security for the payment of a debt or the performance of an obligation. A mortgage is a lien. A lender will want most, if not all, liens on the property removed before making a mortgage loan.
A claim on someone else's property as security for the payment of a just debt.
A claim made against the property of another in order to satisfy a judgment.
The right of a party to a contract to take possession of an asset unless payment under the contract is received in full. A lien must be registered under the various provincial laws in order to be valid and enforceable.
A hold, claim or charge allowed a creditor upon the lands of a debtor, such as a mortgage.
a notice a creditor attaches to your property that tells the world that you owe the creditor money. You cannot sell the property without paying off the creditor because the lien makes the "title" (history of ownership) cloudy and a new owner won't buy under those conditions.
A lien is an ownership right to a piece of property. When a financial institution loans money to someone purchasing a vehicle, the financial institution has a lien on the vehicle. Other types of liens include mechanic's liens and child support liens.
A creditor's claim against property. When the debt is paid, the lien is removed. Liens may also be granted by courts to satisfy judgments.
A charge or encumbrance upon property for the payment or discharge of a debt.
A hold, a claim or charge allowed a creditor upon the assets of a debtor.
A charge, security, or encumbrance placed on property resulting from a debt, obligation, or duty.
A legal claim by an individual (or group of individuals) on the property of another individual, or individuals, as security for money owed.
A legal right or claim upon a specific property which attaches to the property until a debt is satisfied.
A lien is a claim against a property which is being financed. The lien holder is usually the lender who put up money for the buyer to purchase an automobile and the lien holder has rights to the property until the loan has been repayed.
A lien is a claim on a piece of property which gives the lienholder (lender) the right to reclaim the property if payment obligations or terms are not met sufficiently.
A claim, encumbrance, or charge against or an interest in property to secure payment of a debt or performance of an obligation.
A claim of money against a property, wherein the value of the property is used as security in repayment of a debt. Examples include a mechanic's lien, which might be for the unpaid cost of building supplies, or a tax lien for unpaid property taxes. A lien is a defect on the title and needs to be settled before transfer of ownership. A lien release is a written report of the settlement of a lien and is recorded in the public record as evidence of payment.
An encumbrance against a property for money due, that must be paid off when the property is sold.
An encumbrance affecting the property as security.
legal right to hold property of another party or to have it sold in the event that a loan is not paid.
An encumbrance against property of another as security for the payment of a debt, judgment, mortgage, taxes or other obligation.
A legal claim to property of a taxpayer that attaches to and encumbers the property as a part of IRS efforts to collect a tax.
a right in the property of another until a debt owed is satisfied.
A legal mechanism that allows a person or party to attach the property of another as security for payment of labor, materials, or other goods and services provided to enhance the value of the property. See mechanics’ lien and Chapter 60.04 RCW.
the right to enforce a charge against the real or personal property of another for the payment of some debt or claim.
A right which a person or business entity, usually a creditor, has to keep possession or control of the property of another for the purpose of satisfying a debt.
Instrument by which creditors can secure debts to a property
A monetary claim against your property. Usually liens must be settled before the seller can take the title.
An encumbrance against a property for money as security for the payment of a debt.
A claim to a piece of property that a creditor would place as security for a debt.
A claim of money against a property. Example: a tax lien for unpaid property taxes. A lien is a defect, or "cloud," on the title and must be resolved before ownership of the home can be transferred.
The claim upon a piece of property for payment to satisfy a debt or obligation.
A charge against property, making it security for the payment of a debt, judgment, mortgage, or taxes. A lien makes the property collateral for a debt. Compare to property held Free and Clear.
A claim against property which is allowed by the law as security for repayment for a debt.
A legal claim of one party on the property of another as security for a debt.
Interest in real property that serves as security for repayment of debt.
A subcontractor may file a mechanic’s lien on a property if they are not paid for the work they performed on that property. All liens must be paid off prior to receiving any profit from the sale of a home.
A legal claim filed against your home.
A legal interest taken by creditors in the consumer's property to secure payments of a debt. A lien can be created voluntarily, such as when the consumer pledges real estate by giving the creditor a mortgage or deed of trust. A lien can also be created without the consumer's consent, such as when delinquent property taxes become a lien on the property.
A legal claim on ownership of the vehicle stemming from a debt. If you don’t make the payments, the one holding the lien can take and sell the vehicle as full or partial payment of the debt.
The right to retain the lawful possession of the property of another until the owner fulfills a legal duty to the person holding the property, such as the payment of lawful charges for work done on the property. A mortgage is a common lien.
An attachment, either voluntary or involuntary. A lender will apply a lien to encumber real or personal property. The lien could be granted by form of an abstract judgment rendered by a court of law.
A legal claim or hold on property as security for repayment of a debt.
A security interest. A legal document recording the existence of a security interest.
The legal claim against real property that must be satisfied prior to its sale.
A recorded document which claims an interest in real property as security for a debt owed. Such liability may be created by contract, such as a deed of trust, or by a court judgement.
A charge or claim that a person has upon another's property as security for a debt or obligation.
A monetary claim made against a property for unpaid mortgage, taxes, contractor work, or other charges. A lien attaches to the property, not the owner, but must be recorded in the property records of the resident county. Back to
This is an encumbrance or debt levied against the property and makes the property security for its discharge or payment.
a documented recorded on a local county level stating a securitization or collateralization of the property to back or guarantee a debt obligation from a creditor.
A claim against or interest in the property of a debtor. A lien prevents the sale of the property without the permission of, or payment to, the lien holder. A judicial lien is one obtained through a court action. A statutory lien is one given by law, think IRS or a real estate tax lien.
An arrangement whereby one party holds another party's assets as security for an obligation that is to be performed.
This refers to one person on the property making a claim of another person as security for money due.
A lien refers to a mortgage loan or some other encumbrance or attachment on real estate property.
an encumbrance against a property for the satisfaction of a debt, either voluntary or involuntary (all liens are encumbrances but not all encumbrances are liens).
Legal restriction on a property’s title. A mortgage is a lien against a property where the lien holder is paid if the property is sold.
A party's claim on someone else's real or personal property as payment for a debt.
An attachment that encumbers real or personal property
A hold or claim on property; the effect of a filed "Transcript of Judgment."
A creditor's claim against a property, which may entitle the creditor to seize the property if a debt is not repaid.
An interest in real or personal property that secured a debt; the lien may be voluntary, such as a deed of trust on land, or involuntary, such as a judgment lien or tax lien.
The legal right to claim on a person’s property.
past due support automatically becomes a legal claim on the property of the person owing arrears.
Debt in the form of a mortgage or claim by a creditor against real estate.
the right to use property as security for a debt or loan.
A claim on a property to ensure payment of a debt. LISTING AGREEMENT: The contract between a seller and their broker authorizing the broker to list his/her property for sale.
This is the legal claim on a property until the financial obligation is paid.
The claim against a property that has to be paid off when you sell a property.
A claim, encumbrance, or charge on a taxpayer's property to obtain payment of overdue taxes.
A financial claim on the property. A lien gives a third party the right to a portion of the money from the property's sale. The most common type of a lien is a mortgage, because the bank has a right to a refund of their money from the property's value. However, liens can also be filed by unpaid contractors ("mechanic's liens"), or courts ("judgments").
A form of encumbrance that makes the property security for the payment of a debt. Examples include deeds of trust, mortgages, judgments, and mechanics liens.
a legal claim usually against a piece of land for payment of some debt, obligation, or duty. Some forms of liens are tax liens and materialman's liens.
Claim filed against deed on property for money owed
A Tax Lien, Mechanics Lien or any other kind of lien recorded against real property for money owed.
a legal attachment to the title of a property that registers a claim for money
A lien is a loan secured by property. The lien can be voluntary (mortgage) or involuntary (judgement).
A claim upon the real property of another for some debt. The property remains in the defendant’s possession.
A legal interest in collateral which allows a creditor to take and sell the collateral should the debtor default. See also security interest.
A claim lodged against real estate to effect repayment of an indebtedness. For example, a mechanic's lien, where the contractor records his lien for work done and not paid for.
The right of a person to hold onto or take money or property if you do not fulfil your part of an agreement. A lawyer may have a lien over a file kept for a client if costs are not paid. A real estate agent may have a lien over deposit monies held by him if his commission is not paid. A motor vehicle repairer may have a lien over your vehicle if repair costs are not paid.
An encumbrance using the property as security for the payment of a debt or obligation of the property owner.
a legal charge or claim by one party on the property of another to ensure payment of a debt either prior to or at the time the property is sold.
The lender has a claim on an asset offered by borrower as collateral until borrower pays off the auto finance in full.
The legal right of a creditor to obtain money owed by forcing sale of property that has been pledged.
A charge or encumbrance placed on real or personal property preventing transfer of title until the amount owed is paid and the lien removed.
A right to hold property as security against a debt.
A legal right or claim on a property, held until a debt is paid.
An interest in real or personal property which is security for a debt. The most common form of a lien is a mortgage.
A claim on a property of another as security for money owed. Examples of types of liens would include judgments, mechanic's liens, mortgages and unpaid taxes.
A legal claim placed upon property, such as a home or vehicle, to insure payment of a debt.
Right to retain possession of assets of documents until the settlement of debts.
An encumbrance placed against real property for money due as in "mortgage lien".
A legal claim to a property by the lien holder (for mortgages, the lender) in the event the mortgage or property taxes are in default.
A legal right or interest that a creditor has in another property that last until the obligation is paid or satisfied.
A type of encumbrance that makes designated property security for a debt or for an obligation. For example, a mortgage or a tax judgment.
A security interest on property to protect the lender in the event of lessee default.
The legal right that one individual has to the property of another. A mortgage or deed of trust is a lien upon one's property.
A legal right of a creditor to force the sale of property of their debtor to satisfy the debt. Most governing documents, and the Washington Condominium Act, provide that the association automatically has a lien against any unit for the value of any unpaid assessments. To actually collect the money, the association must foreclose the lien through the courts, and recover the unpaid assessments from the proceeds of the sale of the property.
A security interest in one or more assets that is granted to lenders in connection for financing. An example would be a lien on equipment granted to a lender by a company seeking financing.
An interest in collateral which provides that the collateral may be taken and sold in order to pay a debt if a debtor defaults. See also security interest.
Encumbrance or legal burden upon property that must be satisfied when the property is sold.
An interest in real property which gives the lienholder an encumbrance on the owner's title.
An interest that a creditor has in a consumer's property that lasts until the debt or duty of a loan is satisfied.
The liability of real estate as security for payment of a debt. Such liability may be created by contract, such as a mortgage, or by operation of law, such as a mechanics lien.
A right given by law to certain creditors to have their debt paid out of the property of a defaulting debtor. Court judgments become liens against a persons real property. Liens and judgments are recorded at the county clerk's office and are considered public information.
Under the NOC a clause of Acceptance of Lien is covered. This simply states that you have accepted to mortgage your property and can not sell it to any one else without the consent of the HFI.
A claim laid against a property. Liens must be removed from a property's title before it can be sold.
A legal claim on a property used as security for a debt.
A monetary charge imposed on a property, usually arising from some debt or obligation.
An encumbrance against property for the payment of debt; a lien may be a mechanic's lien, mortgage, unpaid taxes or judgment.
An administrative or court enforcement remedy enacted by an encumbrance on any real or personal property belonging to the obligor.
Claim placed on property by a person who is owed money.
A lien is a legal claim held by a creditor against an asset to guarantee or secure repayment of the debt. Mortgage liens are regularly used in real estate lending as collateral for a loan.
Claim against a property for the payment of debt, judgment, mortgage, or taxes.
The right given by law to satisfy debt. A legal claim of one person or company on the property of another for purposes of securing a debt.
A legal claim against a property. Once the property is sold the lien holder is then paid the amount that is owed.
At the time the policy is issued or reinstated, as a part of the underwriting decision, the company may impose a lien on the policy. This would mean that in the event of a claim arising from a specific risk or within a period, a certain agreed amount would be deducted form the claim. The insured is regarded to self insure the amount to be deducted as the company has declined to cover the specific risk or the insured has agreed to this arrangement instead of paying the extra premium.
The right to keep possession of a property until the debt due in respect of it has been paid.
An encumbrance on property to secure payment of a debt. A health care provider has a right to place a lien on a claim to guarantee that his/her bills will be paid when the case concludes.
The right given by law to certain creditors to have their debts paid out of the property of a defaulting debtor, usually by means of a court sale.
Right of retention. Where a person has improved someone else's property or has incurred certain expenses in respect thereof he may retain possession of such property until the debt due to him has been discharged. The right to retain possession is called a lien.
A right or claim for payment against a workers' compensation case. A lien claimant, such as a medical provider, can file a form with the local Workers' Compensation Appeals Board to request payment of money owed in a workers' compensation case.
A legal claim on another's property as security for the payment of a just debt.
Claim against a property that allows the proceeds from a forced sale of the property to be used to satisfy the debt.
A legal holder or claim against a property. A mortgage is one form of a lien.
A legal claim by a person for the property of another as security for payment of a debt.
A monetary claim against a property that has to be met before full ownership of the property is granted. For example, in a home loan, the mortgage company technically owns the house until you have satisfied the lien- in other words, until you pay them the amount owed for the mortgage. up
A claim (legal interest) against a home. Common types of liens include a mortgage, tax lien or judgment lien.
A claim on property owned by someone else due to money owed.
A claim against equipment, assets or other property.
An encumbrance on particular assets, utilized as security in the extension of credit, or after the recording of a judgment.
A legal claim filed against a property to ensure that the property cannot be sold without the owner repaying a debt.
Legal claim against a property that must be paid off when the property is sold.
A legal claim to a property that must be paid when the property is sold
A legal claim or attachment against property as security for payment of an obligation.
A interest in property which secures a debt.
A claim against someone's property. A lien is instituted in order to secure payment from the property owner in the event that the property is sold. A mortgage is a common lien.
A claim or charge on property of another for payment of some debt, obligation, or duty.
A form of encumbrance which usually makes the property security for the payment of a debt or discharge of an obligation including judgments, taxes, mortgages, or deeds of trust.
an obligation against a property owner secured by the owner's property.
A claim upon a piece of property for the payment or satisfaction of a debt or obligation.
A monetary claim against a property, which usually needs to be settled before the buyer can take title.
A claim upon real or personal property to prevent sale or transfer until a debt is satisfied Long arm statute A law, that permits one State to claim personal jurisdiction over someone who lives in another State based upon certain minimum contacts Rite Care Federally funded medical support for low-income families Medical Support Legal provision for insurance coverage, or a cash medical payment
A legal claim, granted by contract or by a court, against property, A mortgage is one kind of lien.
A charge against real property in order to secure payment or satisfaction of a debt or other obligation.
A security interest in real estate or personal property.
claim made on a property in order to satisfy the debt or obligation.
The right to retain the property of a debtor until he pays (originally an English term).
The legal right to hold another's property or to have it sold or applied for payment of a claim to satisfy a debt.
the legal right to keep possession of somebodys property till debt owed in connection with it is settled
A right given by law to a creditor to have a debt or charge satisfied out of the property of the debtor. It applies to a particular piece or pieces of real or personal property. Return to Top of Glossary
A legal claim against a property used to secure the payment of debt related to the property.
A claim against real property.
A legal claim against a property such as security for a debt, a judgment, or mortgage or taxes due.
a legal claim against a piece of land for payment of some debt, obligation, or duty. The lien results from the court's entry of a judgment against a landowner.
A charge or security or encumbrance upon property.
() An encumbrance against property for money due, either voluntary or involuntary.
Right to retain possession of assets or documents until settlement of a debt.
A claim by a party on the property of another for payment of a debt or obligation. It is not a right to the property itself, but rather stops the owner from doing anything with it. The lien may be enforced or collected by levying on the property.
A hold, claim, or charge allowed a creditor upon the lands of a debtor. Some examples are mortgage liens, judgment liens, and mechanics' liens.
A security interest in real or personal property which places the holder in a position prior to the rights of the general creditors of the owner. Examples include Trust deeds, mortgages, special assessments, recorded judgments, mechanics liens, taxes, etc.
A claim against a property for money owing. A lien may be filed by a supplier or a subcontractor who has provided labour or materials but has not been paid. A lien must be properly filed by a claimant. It has a limited life, prescribed by statute that varies from province to province. If the lienholder takes action within the prescribed time, the homeowner may be obliged to pay the amount claimed by the lien-holder. Alternatively, the lienholder may force a sale of the property to pay off the debt.
An attachment by an individual or company to the property of another as security for repayment of a debt.
A legal right or interest that a creditor has in a debtor's property, lasting usually until the debt that it secures is satisfied.
A charge against a property whereby the property is made security for the payment of a debt such as a judgment or mortgage.
A type of security over property. Under a legal lien, the creditor has the right to retain possession of a debtor’s property until the debt is paid. Where the property retained is connected with the debt owed, the lien is a particular lien; where there is no connection, the lien is a general lien. An equitable lien, however, may exist irrespective of possession and arises by operation of law rather than by express agreement, conferring on the creditor rights over certain property of the debtor.
A claim against property for the payment of a debt, i.e., unpaid taxes, mortgage, or judgments.
A legally enforceable claim held by one entity on another entity's property. The claim exists until the property owner satisfies the claim.
A claim on real estate, equipment or other possessions for payment of some debt or court ordered obligation. Liens are recorded in a city or town's land records to inform everyone that the property or possession cannot be sold until the lien is paid off.
If you have in your possession, goods or assets belonging to a debtor you may have a right to "exercise a Lien" and you may retain those goods or assets until such time as the debt is repaid to you.
Hold or claim which person has on the property of another as security for some debt or charge.
Security claim on property until a debt is satisfied.
A hold, a claim or a charge allowed a creditor upon the lands of debtor. “Some examples are mortgage liens, judgment liens, mechanic's liens.
An encumbrance or claim against real property that may be voluntary. For example, a homeowner agrees to pledge real estate as collateral for a home improvement being done by a contractor. A lien may also be involuntary. For example, a homeowner is delinquent in payment of a property tax bill. An involuntary lien is placed on the property by the relevant municipality.
A legal claim against a property that must be paid before the property is sold.
The right to hold any property given as a pledge or security until the debt it secures is paid. To constitute a lien, the debt must be enforceable in equity or law; (e.g., a mortgage).
Land or property is used as security for the payment of a debt.
a legal hold or claim by a creditor or other party against an asset. If an obligation is not fulfilled the property may be seized through a court order to satisfy the lien.
A legal right given to the creditor to keep or sell property as security for a debt.
An example would be the security interest earned on a mortgage. Something a creditor will claim on property.
A word that indicates an incumberance on property, either for discharge of a duty or the payment of a debt. When a lien exists, the conditions attaching to the issue of an insurance contract, require that it be disclosed to the Company.
A legal claim against the property. Liens are used to secure loans and must be paid first if the building is sold. For example, the lender puts a lien against the building when you take out a mortgage to purchase it. This means that when you sell the property, the mortgage must be paid off before anyone else, including you. Other types of liens that may be put on your property include property taxes, from the Internal Revenue Service, court ordered, etc.
An encumbrance against property for money, either voluntary or involuntary. Example: Deed-of-Trust, Judgment, Taxes, etc.
A claim against a property by another party which utilizes the property as security for repayment of a loan or other claim. This usually affects the ability to transfer ownership.
A lien is a claim placed on property to satisfy an unpaid debt (such as a mechanic's lien).
The claim held by the lender on the assets of a loan.
an asset held in exchange for debt financing
A claim against a property for the payment of a debt. A mortgage is a lien; other types of liens a property might have include a tax lien for overdue taxes or a mechanics lien for unpaid debt to a subcontractor.
A claim a Lender may place on property in return for making a loan. If a borrower is unable to make loan payments as agreed, it gives the Lender the right to try and collect repayment of the loan through selling the borrower's property. If the lien is placed on real property such as a house, this lien is often referred to a "Mortgage" or a "Trust Deed."
A legal claim filed against a property for payment of a debt or obligation. If a property owner fails to pay a creditor, for example, the creditor can place a lien on the property. A lien can halt the sale of a property.
A claim against a property, typically as security for a debt. In addition to a mortgage lien, a property may also have a tax lien (e.g. overdue property taxes) or judgment lien, which is a court-appointed claim against a property.
A charge or claim against a property that provides security for the property owner's debt or obligation.
A legal claim on ownership stemming from a debt. A lien will often be held on the vehicle's title until the debt is paid off, at which point the title is transferred and the lien is cleared. Liens can also be recorded in writing, in state or county documents.
A claim made by an individual on another individual's property to pay for money owed.
A creditor's claim to a consumer's property for the satisfaction of a debt. The creditor may keep the property until the debt is repaid, or sell the property in order to pay the debt. See also tax lien.
A claim by one person or institution on the property of another as security for a debt.
A claim or charge against property. Property is said to be encumbered by a lien and the lien must be removed to clear title.
A legal hold or claim of a creditor on the property of another.
A legal claim against a piece of property that gives a lender the right to foreclose or seize the property if the loan is not repaid as promised.
A REGISTERED DEBT GIVEN TO THE CREDITOR, CREATING AN INTEREST IN THE REAL PROPERTY UNTIL THE DEBT IS PAID AND DISCHARGED.
A claim for money owed by a property owner to a supplier or contractor.
A claim upon property to prevent sale or transfer of that property until a debt is satisfied.
Recorded claim against a property whereby the property is security for a debt. Under certain circumstances, the holder of the lien is entitled to have the property sold to satisfy the debt. A lien is an encumbrance against the property.
An interest that a creditor has in a consumer's property that lasts until the satisfaction of some debt or duty.
A claim or encumbrance on a property. Mortgages, unpaid property tax bills and condo fees are all liens, for example.
The right to hold a person's property as security (q.v.) for the performance of an obligation (for example, the payment of money owing).
A claim by one person on the property of another as security for money owed. Such claims may include obligations not met or satisfied, judgments, unpaid taxes, materials, or labor.
A lien is a legal claim on the home that secures the promise to repay the debt.
A legal claim upon real or personal property to pay a debt or duty.
A legal claim against property for payment of a debt or for services rendered. One who holds a lien has the right to sell the property to obtain the money, or to recover the money when the property is sold. Valid liens are filed with county recorder's offices.
A legal hold or claim of a creditor on property owned by another party.
A claim against a property for money owing. A supplier or a subcontractor who has provided labour or materials but has not been paid may file a lien. A claimant must properly file a lien. It has a limited life, prescribed by statute that varies from province to province. If the lien holder takes action within the prescribed time, the homeowner may be obliged to pay the amount claimed by the lien-holder. Alternatively, the lien holder may force a sale of the property to pay off the debt.
A claim or encumbrance against property used to secure a debt, charge or the performance of some act. Includes liens acquired by contract or by operation of law. Note that all liens are encumbrances but all encumbrances are not liens.
A recorded encumbrance against a property to secure a loan, assessment, judgment or tax bill.
A charge or claim that one person (lienor) has on the property of another (lienee) as security for a debt or obligation. ( See general lien , involuntary lien , mechanic's lien , statutory lien , tax lien , voluntary lien )
An encumbrance for money against property.
When a lien is placed on a consumer's property, it means the property is being used as collateral during the repayment of owed money. A consumer cannot sell a property with a lien on it until they've paid off the creditor with whom they have the lien.
A claim against a property for outstanding debt.
A legal claim upon real estate or personal property for the satisfaction of a debt. Back to Glossary Index
A legal claim against property for moneys owed. A claim against a property in satisfaction of a debt. It can be voluntary, such as a mortgage, or involuntary such as for back taxes.
Lien is the right of lender on an asset of borrower against which the auto loan has been taken. This right continues until borrower pays off the auto finance in full.
A right, given to a creditor and creating an interest in the real property until the debt is discharged.
A legal claim upon real or personal property as security for or payment of a debt.
A lien is a notice a creditor attaches to your property that tells the world that you owe the creditor money. You canâ€(tm)t sell that property without paying off the creditor.
A charge upon property for the payment or discharge of a debt or duty. The right which the law gives to have a debt satisfied out of a particular thing. A charge or claim upon property which encumbers it until the obligation is satisfied.
The right of an individual to retain possession of the goods of another until the latter fulfils his/her obligations such as the payment of an outstanding debt.
A form of encumbrance which usually makes real property the security of payment of a debt or discharge of an obligation, i.e., judgments, tax liens, mortgages, mechanicâ€(tm)s liens, etc.
A claim or charge against property or another asset for the payment of a debt.
An encumbrance put on a property owned by a judgment debtor. It prevents the sale, transfer of title or refinancing of the property until the debt is satisfied.
An interest in property securing the repayment of a debt.
a right given to a lender over a borrower's property or money when the borrower cannot pay a debt.
A lien is an instrument describing a debt which is recorded through a Recording Office in the County which a property resides. Lien priority is determined by recording date. However, Tax liens always take priority.
The holding of property given as security or pledged until the debt it secures is paid. The security interest created by a mortgage.
A security claim on a property until the debt is satisfied.
A legal filing placed on a property or business to stop the owner from paying out funds to various parties without first paying the lienholder.
A monetary claim against a piece of property resulting from an unpaid debt or obligation.
An encumbrance against property for money, either voluntary (mortgage), involuntary (judgment), or by operation of law (property tax lien).
A legal hold against the property as security for the payment of a debt, mortgages, judgments or taxes.
An encumbrance against property, which may he voluntary or involuntary. There are many different kinds of liens, including a tax lien (for unpaid federal, provincial, or real estate taxes), a judgment lien (for monetary judgments by a court of law), a mortgage lien (when you take out a mortgage), and a mechanic's lien (for work done by a con- tractor on the property that has not been paid for). For a lien to be attached to the property's title, it must be filed or recorded with local government.
A creditor's interest in property securing the repayment of a debt.
A lien is an encumbrance (legal hold) against a property as security for the payment of a debt. Examples of debts that may be secured by a property lien: For work done on the property. For materials delivered to the property. A mortgage. Taxes. A court judgment. Liens are recorded against the deed of a property, as a title search will discover.
The right to hold property belonging to another person as security for the payment of some debt or the performance of some obligation - for example, the right of a broker over shares until a buying client has paid for them.
A claim on property to guarantee payment of a loan.
Your solicitor has the right to hold onto all documentation and money gained from a case until such time as you have paid the solicitors fees. Remember, your opponent will not be sending you a cheque directly, payment will be made to your solicitor (the same as selling a house) and he will issue you the remaining balance once his fees have been taken. This is only if the agreement you made with the solicitor requires you to pay his fees at the end of a case.
When a creditor or bank has the right to sell mortgaged or collateral property of those who fail to meet the obligations of their loan contract.
a charge or claim on property belonging to another, for the satisfaction of a debt or duty.
A charge against property making in security for the payment of a mortgage, judgement, or debt.
Retention of property until outstanding dept is paid
The finance company's security interest in your automobile.
A hold or claim against property as security for some debt or charge.
A claim against a piece of property held in place until the obligation is paid in full. Most mortgage loans are in the form of a first lien.
Any claim against a piece of property resulting from a debt or other obligation.
A charge against property by which the property is made security for the payment of a debt.
A claim on the property of another as security against the payment of a just debt.
The lenders right to claim the borrowers 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.
A hold or claim which someone has on the property of another, as security of a debt or charge; if the debt is not repaid as agreed, the property may be sold to pay off the lien.
The right of a secured creditor to grab a specific item of property if you don't pay a debt. Liens you agree to are called security interests, and include mortgages, home equity loans, car loans and personal loans for which you pledge property to guarantee repayment. Liens created without your consent are called nonconsensual liens, and include judgment liens (liens filed by a creditor who has sued you and obtained a judgment), tax liens and mechanics liens (liens filed by a contractor who worked on your house but wasn't paid).
The legal right to hold property, or to have it sold or applied for the payment of a claim, owed to a creditor. A lien is usually placed on real estate.
A legal right or security attached to real estate or personal property until the payment of some debt, obligation, or duty.
A lien is a legal claim against a property for the purpose of securing payment for work performed and money owed on account of loans, judgements, or claims. Liens are encumbrances, and they need to be paid off before a property can be sold or title can be transferred to a subsequent buyer. The liens that exist on a property for sale appear in a property's preliminary title report.
A legal hold or claim on property as security for a specified amount on specified terms.
a lien is the right to retain possession (but not ownership) of something until something else, such as a payment for work carried out to the thing, has been made. For example, if you took your watch to be repaired, the jeweler would have a lien over that watch until such time as you had paid the bill for the repair.
The right to satisfy a debt out of certain property owned by the debtor.
A claim against property for unpaid debts or services. A lien holder may sell the property to recoup funds or recover them after the property is sold to another individual. For validity purposes, this official document must be kept on record with the County Recorder.
An encumbrance against a property for payment of debt related to the proeprty.
This is a claim made against a property for the payment of a debt or obligation related to the property or its owners.
An existing hold on a property to satisfy a debt.
A legal claim or charge on property as security for payment of a debt or for the discharge of an obligation.
The right to use property as security against debt or a loan
A legal claim against a specific property as security for payment of a debt. The mortgagor (borrower) still holds legal title to the property, however, a lien is pledged as collateral.
A lien is the secured interest in property a judgment creditor has for payment of a debt.
A legal claim upon goods for the satisfaction of some debt or duty. Lift-On/Lift-Off
A charge upon property for the payment of a debt or performance of an obligation. A form of encumbrance. Taxes, Special Assessments, and Judgments, as well as Mortgages, are liens. In addition, there are Mechanic's and Materialmen's Liens for furnishing labor or materials.
A charge upon or security interest in real or personal property maintained to ensure the satisfaction of a debt or duty ordinarily arising by operation of law.
An encumbrance, upon real or personal property, that secures the payment of a debt or the performance of a duty.
Creditor's claim against a property to secure repayment of a debt.
The right to take and sell or hold the property of a debtor as security or payment for a debt.
A legal claim on the property of another for the satisfaction of a debt or duty.
A claim against property that makes it security for the payment of a debt.
A legal claim against an asset, like a home or auto, which is used to secure a loan.
A claim against a property assuring the lienholder of their right to payment in the event the property is sold.
A claim on another party's assets. For example, the bank will likely put a lien on your automobile if you want to borrow money and have no other collateral. To Top
A lien makes the debtor's property security for the payment of a dept or the discharge of an obligation. A charge or claim against property as security for payment of a debt or obligation. Back to the Top
An encumbrance that usually makes real or personal property the security for payment of a debt or discharge of an obligation
Any claim against a property, including mortgages, unpaid taxes or repair bills or other unpaid charges. Prospective property buyers conduct a title search to determine whether any liens against the property exist. A lien must be filed or recorded with the local county government to be attached to a property title. Lis pendens A dispute or matter which is the subject of ongoing or pending litigation. Politicians will sometimes refuse to discuss a matter or an issue which is "lis pendens" because they do not want their comments to be perceived as an attempt to influence a court of law.
A legal claim against a property that must be paid when a property is sold.
A claim laid by one person or company on the property of another as security for money owed.
A lien is a claim against property or other assets for bills that have been left unpaid. For example, a customer who did not pay a contractor in full could have a lien placed against his property until the remaining balance is paid.
A legal claim against personal property. When a borrower has a mortgage on a home, the lender will hold a lien against the property in case of default. The mortgage itself acts as the lien.
A charge registered against a property.
A legal claim upon a piece of property generally for the payment of a debt or obligation.
A claim by one person or entity on the property of another as security for money owed. Examples: obligations not met or satisfied, judgments, unpaid taxes, materials, or labor. (See also special lien.)
A security interest in property, such as an auto, to secure the payment of an obligation.
An encumbrance against property for money, either voluntary or involuntary. All liens are encumbrances but all encumbrances are not liens.
A claim or charge upon property for payment of a debt, obligation or duty.
A charge that is levied against real property in order to satisfy a debt.
A charge upon real or personal property for the satisfaction of a debt or discharge of an obligation. Examples would include: judgments, taxes, mortgages, deeds of trust, etc.
A claim on another's property as a security for a debt or charge.
The right to force the sale of property to pay a debt.
(1) An encumbrance, either voluntary or involuntary, against property for money. (2) A legal claim on the property of another as security for a debt or obligation. Note: All liens are encumbrances, but all encumbrances are not liens.
A legal claim upon a piece of property that must be satisfied in order to transfer title.
A property right which remains attached to an object that has been sold, but not totally paid for, until complete payment has been made. It may involve possession of the object until the debt is paid or it may be registered against the object (especially if the object is real estate). Ultimately, a lien can be enforced by a court sale of the property to which it attached and then the debt is paid off from the proceeds of the sale.
A charge upon real or personal property for the satisfaction of some debt or duty ordinarily arising by operation of law. Praecipe A written order requesting a clerk of a court to issue a writ and specifying the contents of the writ.
An encumbrance on the property. A mortgage is a type of lien.
The ownership rights to piece of property.
The right to take and hold or sell the property of a debtor as security or payment for a debt or duty.
The lender's legal claim to the borrower's property.
an encumbrance upon property that arises out of a debt or other obligation. For example, a mortgage or a judgment or an unpaid municipal claim may create a lien against property.
A claim or incumbrance on the land of another for the furtherance of his own purposes.
A legal claim or hold which one person has upon the property of another as security for the payment of a debt or performance of an obligation.
A claim on your assets by a lender as a means to secure debt.
A legal right to place a claim or encumbrance on property or have it sold for payment of a debt.
A monetary claim against a property. These should be settled before the sale is finalized.
An assignment made by a creditor against a piece of property used as security for a debt.
A hold or a claim on the property of another to satisfy an unpaid debt.
A claim or charge on real personal property for payment of some debt, lien obligation or duty.
as it relates to mortgage, it is a legal decision in which someone has claim on the debtors property
a claim on a person’s property as security for an unpaid debt.
A lien is a right to retain a debtor's moveable property until the debt is paid.
A legal claim by one party against the property of another as security for a debt. Must be paid off when property is sold. A mortgage or a first trust deed is a lien.
A legal claim over an asset.
a legal claim by one party on the property of another party. In a mortgage, it is used as security for repayment of the loan.
The legal right of one person to hold the property of another as security for a debt.
A legal right to hold the property of another as security for the fulfilment of some obligation / In life assurance another word for debt (q.v.).
A claim or charge on property for payment of some debt. With respect to a mortgage, it is the right of the lender to take the title to your property if you do not make the payments due on the mortgage.
A legal claim against an asset that is used to secure a mortgage. To sell the property, the lien must be paid.
A legal hold or claim on property as security for a debt or charge.
A charge upon real or personal property for the satisfaction of a debt. - More details
A legal claim or attachment against property as security for a loan.
A right in real property that secures a debt or other obligation. A lien can secure a loan or another claim against the property, such as taxes.
The act by which a creditor obtains the rights to hold onto or sell property owned by the person in the event that the person lending money defaults on his/her loan payment agreements.
A legal hold or claim from one person on the property of another. The lien placed by a first mortgage is special; it is called the first lien and takes precedence over others. Back
A voluntary or involuntary claim against property due to unpaid debt. Lifetime Cap: The limit on the total increase in interest rate during the period of a loan.
A legal enforceable and binding encumbrance upon some form or multiple forms of property.
legal claim against a property that must be satisfied by the time the property is sold. (i.e. mortgage, trust deed, security deed)
A hold, claim, or charge allowed to a creditor upon the lands of a debtor. Liens may be mortgage liens, judgment liens, and mechanic liens.
A claim against the property for the payment of a debt, judgement, mortgage or taxes. A Lien my be voluntary or involuntary (e.g. a mortgage vs a judgement). Example : Unpaid contractors may file a mechanic's lien.
A form of encumbrance that usually makes a specific property the security for fhe payment of a debt or discharge of an obligation. For example, judgments, taxes, mortgages, deeds of trust.
A right in one man to retain that which is in his possession, belonging to another, until certain demands of the person in possession are satisfied. For example, an auctioneer has a lien (namely, a right to retain possession) of goods until his charges upon them are met, a workman, a lien upon the article he is mending; a solicitor, a lien upon title deeds he is holding. An agent has a lien on deposit for his commission.
The right to retain property belonging to the debtor (but which is already rightfully and continuously in the creditors possession) until the amount due from the owner of the property is paid. For example a garage principle has a lien on a car on which he has spent time and labour making repairs because he has that property in his possession and can refuse to give it up until he is paid. The ownership of the property is left undisturbed ‑ that is, the debtor continues as owner but the creditor has possession. In general the creditor has no right to sell the property.
The right to hold property as security against a debt or loan.
A legal claim against a property for the purpose of securing payment for work performed and money owed on account of loans, judgments, or claims. Liens are encumbrances that must be paid off before a property can be sold or title can transfer to a subsequent buyer. The liens that are a matter of public record on a property for sale appear on a property's preliminary report.
Under Nevada Law taxes levied against property are a perpetual lien against the property assessed until the tax and any penalty charges and interest, which may be due, are paid.
An interest in real or personal property which secures a debt; the lien may be voluntary, such as a mortgage in real property, or involuntary, such as a judgment lien or tax lien.
A claim or charge on property for payment of a debt. With a mortgage, the lender has the right to take the title to your property if you don't make the mortgage payments.
A legal claim by one person on the property of another for security for payment of a debt.
A creditor's claim against assets to secure a debt.
A legal claim or encumbrance against property, usually found on a title. Liens must be removed to clear a title.
A legal claim made against a borrower's property in order to secure a debt.
A debt or security claim on property that must be paid prior to sale.
A claim placed by a creditor on a piece of real estate, or property, to ensure the payment of a debt.
Charge against property, making it security for the payment of an obligation, such as a debt, mortage, or unpaid taxes.
an encumbrance on property imposed to secure the payment of a debt or judgment obligation
A lien is a charge against property that provides security for a debt or obligation of the property owner. The lien holder does not own the property. The owner of property may voluntarily agree to a lien, perhaps by taking out a mortgage, or a lien can be imposed, perhaps for nonpayment of taxes. One of the most common liens is the mechanics lien. A mechanics lien arises when someone furnishes labor or materials to improve a piece of property. If the worker or supplier is not paid by the property owner, he or she can file a notice of lien with the county recorder and the property owner and collect the amount owed from a subsequent sale of the property. If a property owner has paid the general contractor in full but the general contractor has not paid the subcontractors, the owner will not have to pay for the services a second time.
A hold or claim one party has on the property of another, usually as security for the debt or other obligation. For example:, a home mortgage or loan on a car.
A debt; a claim against property for payment of some debt.
a legal claim on the property that secures the promise to repay the loan.
A claim placed on a property to make sure that a debt is repaid. The mortgage on your home is a voluntary lien – you agree to put up your home as a guarantee that you'll repay the loan. Creditors, like the IRS or someone who has won a civil court suit against you, can also have a lien put on your home, but without your permission. All liens must be paid off before you can sell or will your property to someone.
Any legal claim against a property, filed to ensure payment of a debt.
Legal claim on assets (personal or commercial) to pay a debt or duty.
Creditor's claim against property. For example, a mortgage is a lien against a house; if the mortgage is not paid on time, the house can be seized to satisfy the lien. Similarly, a bond is a lien against a company's assets; if interest and principal are not paid when due, the assets may be seized to pay the bondholders. As soon as a debt is paid, the lien is removed. Liens may be granted by courts to satisfy judgements.
a charge upon real or personal property for the satisfaction of some debt; the security interest created by a mortgage; any mortgage, deed of trust, pledge, hypothecation, encumbrance, lien or other security agreement, including, without limitation, any conditional sale or other title retention agreement, and any financing lease having substantially the same economic affect as any of the foregoing, except that statutory and other non–consensual liens will not be Liens.
The legal right to keep another person's property until a debt owed in respect of it is paid.
A debt that is secured by something of value. A mortgage is a lien on real property.
Is an In Rem encumbrance or charge upon real or personal property or the right thereto to prevent the sale, transfer, encumbering, or hypothecation of the property until a child support debt is satisfied.
A charge or claim by one party on the property of another as security for the payment of a debt.
A legal hold or claim against a property to secure payment of a debt or other obligation such as payment of a mortgage loan, taxes, contractor fee, judgement, Etc. A lien is an encumbrance on the property.
A claim or charge against property that must be paid prior to obtaining clear title. Usually, the law allows the owner of the lien to start a court proceeding to force the sale of the property to pay off the lien. (foreclosure).
A claim that one person or organization has upon the property of another as security for the payment of a debt or charge.
The right to retain possession of the property of another until the owner completes a legal duty to the person holding the property. For example, a workmen has a lien on property until he receives payment of lawful charges for work done on the property.
A legal claim on the property that acts as a security for the payment of a debt. If the debt is not repaid as promised, the lender or the lienholder can foreclose its claim on the property and force a public sale to pay the debt.
A claim against a property in satisfaction of a deed. It can be voluntary (such as a mortgage) or involuntary (such as a lien for back taxes).
A legal claim against a property. Liens must be paid when the property is sold.
A form of encumbrance which usually makes property security for the payment of a debt of discharge of an obligation. Example: Judgments, taxes, mortgages, deeds of trust, etc.
A legal security interest on property to secure the repayment of debt and the performance of related obligations.
a claim on specific property for payment of a debt
a secured interest in property. " A claim, encumbrance, or charge on property for payment of some debt, obligation, or duty."
An obligation that can be held by an individual who has an interest in a particular matter or property.
A security right permitting one person to retain possession of goods owned by another until the claim of the person retaining the goods as against the owner has been satisfied
A lender's claim on assets offered as security for a loan. It is a right which a person, to whom a sum of money is owed by another, is given in law over the goods of that other', to secure payment of the sum owed. Lien may be possessory, i.e., exercisable only as long as the goods are in the possession of the claimant, and equitable, i.e., enforceable irrespective of the possession by the creditor.
a charge upon specific property designed to secure payment of a debt or performance of an obligation.
A financial claim against a property that must be cleared before the property is sold.
A legal claim that one person or party holds over another, until the claim is satisfied.
A creditor's claim against property when payment is not made for work or service performed. When the debt is paid, the lien is removed. Courts to satisfy judgments may also grant liens.
The legal claim against a property that must be satisfied before the property may be sold.
A secured financial interest or legal encumbrance on a property. For example, a secured loan appears as a lien on the property’s title report.
A charge upon property for the purpose of securing the payment or discharge of a debt or obligation.
A claim, held by the lender upon a real estate property, for the payment or satisfaction of a debt.
security interest in one or more assets that is granted to lenders in connection with secured debt financing.
is a charge over your property = such as a mortgage
A claim on the borrower's property for the payment of debt.
A charge or claim which one person (lienor) has upon the property of another (lienee) as security for a debt or obligation. Liens can be created by agreement of the parties(mortgage) or by operation of law (tax liens).
A legal claim upon goods for the satisfaction of some debt or duty. Lightening A vessel discharges part of its cargo at anchor into a lighter to reduce the vessel's draft so it can then get alongside a pier.
A claim against property for the payment of a debt; mechanic's lien, mortgage, unpaid taxes, judgments.
Claim or charge on property of another for payment of a debt, obligation, or duty' e.g. mortgage liens, judgment liens, mechanics' liens.
a legal claim against property that must be satisfied When the property is sold
A claim against a business' assets to secure payment of a debt.
Security for a loan created when the proprietor of land deposits his Issue Document of Title with the lender.
A legal claim on certain assets that are used to secure a loan.
a right to hold someone else’s asset as security
Legal claim placed on the property of a person as security for money owed.
A claim against property which then serves as security for the payment of that claim.
A legal right to withhold the goods/property of another until payment is made
Where a party holds another party’s asset(s) as security for an obligation that it is to perform.
Voluntary or involuntary monetary encumbrances which typically make property security for the payment of a debt or discharge of an obligation. It is a charge against real property. Examples; judgments (involuntary) or mortgages/deeds of trust (voluntary).
A charge upon real or personal property as security for some debt or duty. Also, the security interest created by a mortgage. The conditions of an insurance policy require the disclosure to the insurer of any existing lien on the insured property.
A legal claim on a property for payment of a debt either secured by the property or some other financial obligation, e.g., mortgage taxes, unpaid repair or construction bill.
A cause filed in court to attach a portion or all of an obligor's real or personal property. Generally, liens are placed on property owned by a judgment debtor or through workers' compensation court against any settlements that might be reached
A legal claim or security instrument against property for moneys owed. back
Legal document used to create a security interest in another's property. A lien Legal document used to create a security interest in another's property. is often given as a security for the payment of a debt. A lien Legal document used to create a security interest in another's property. can also be placed against a consumer for failure to pay the city, county, state or federal government money that is owed.
A legal claim held by one party against the property or other asset owned by another party.
A secured financial claim or legal encumbrance on a property that appears as an unsatisfied obligation on the property’s title report.
the right to hold property as security until the debt it secures is paid æŽæ“ÁŒ A—¯'uŒ A'S
A loan secured by real estate. An encumbrance against a property for money due. The lien can be voluntary such as a mortgage or involuntary such as a judgement.
The claims of debt, judgment, mortgage or taxes brought against a property.
Legal document used to create a security interest in another's property. A lien is often given as a security for the payment of a debt. A lien can be placed against a consumer for failure to pay the city, county, state or federal government money that is owed. It means that the consumer's property is being used as collateral during repayment of the money that is owed.
A claim that bars the sale or transfer of specific property until payment of a debt or obligation is made.
A legal right or interest a creditor has in a debtor's property for the purpose of securing the payment of a debt. The Iowa Code authorizes a number of liens for specific obligations as well as for judgments.
A legally documented claim against a vehicle by another party to which the vehicle has been offered as security for repayment of a loan or other debt. A lien against the title may make it impossible to sell the vehicle and transfer the title until the lien is cleared.
A legal claim, attached to a property title, against the property for an unpaid debt. These can include: tax lien - a claim placed on the title when the owner owes taxes on the property. judgment lien - a court-ordered claim against the current or previous owner of the property. mechanic's lien - a claim by a contractor for any work done on the property.
The right, enforceable in equity or law, to hold any property given as a pledge or security until the debt that it secures is paid; a debt, obligation, or potential loss
This is the claim against property pledged or mortgaged to secure performance of an obligation.
A legal claim on ownership stemming from a credit obligation.
The claim one person has on the property of another as security for the payment of a debt or discharge of an obligation, such as taxes, deeds of trust, etc.
In law, a lien is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienor and the person who has the benefit of the lien is referred to as the lienee.