First lien: Difference between revisions

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imported>Doug Williamson
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Revision as of 12:46, 30 October 2016

A lien is a legal right to hold the property of another party or to have it sold or applied in payment of a claim.

A first lien places the lien holder first in line to collect payment from the sale of the collateral in the event of a default on the debt.


See also