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A lien is a security interest or legal right acquired in ones property by a creditor , or lienholder. A lien usually prevents sale of the property until the underlying obligation to the creditor is satisfied.
What is an example of a lien?
A lien is a legal claim against your property or assets that are used as collateral to satisfy a debt. Courts often issue liens when a debtor fails to pay a loan or other debt agreement.
What is the full meaning of lien?
noun. ˈlēn. : a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or especially by operation of law. specifically : a security interest created especially by a mortgage. assessment lien.
What does it mean to give a lien?
A lien is a legal claim on a piece of property that must be paid off before the property can be sold. If a court decides that a person must repay a debt, a lien may be placed against that persons property.
What is the simple definition of a lien?
Lien is generally applied for recovery of any charges which are due in the account or in case a temporary credit is posted in your account against Fraud/Dispute raised in the account.
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May 29, 2009 State and local tax liens cannot achieve priority over the Federal tax lien by being characterized under state law as judgments. United States v
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