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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.
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 is a lien in Louisiana?
A mechanics lien is a type of legal claim that Louisiana suppliers, subcontractors, or contractors can place on a property to protect themselves against debt owed for labor, materials, or services rendered for real estate development.
What is an example of lien?
For example, if someone takes out a loan to buy a car, the car dealer would be paid using the borrowed funds from the bank. In turn, the bank would be granted a lien on the vehicle. If the borrower does not repay the loan, the bank has the right to execute the lien, seize the vehicle, and sell it to repay the loan.
Is it lein or lien?
A lien secures the governments interest in your property when you dont pay your tax debt. A levy actually takes the property to pay the tax debt. If you dont pay or make arrangements to settle your tax debt, the IRS can levy, seize and sell any type of real or personal property that you own or have an interest in.
Related Searches
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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.
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A lien is a legal claim to secure a debt and may encumber real or personal property. A state tax lien (also known as a state tax execution) is recorded with one
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