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Definition for

Lien

A hold or claim that one person has upon the property of another to secure payment of a debt or other obligation. A lien may be voluntary (consensual), as in the case of a deed of trust, financing statement or mortgage; or it may be involuntary (non-consensual), as in the case of a judgment, mechanics’ lien or tax lien. The holder of the lien may enforce the right to payment by foreclosing on the property. See foreclosure and tax sale.

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