noun
- A legal right or interest that a lender has in the borrower's property, granted until the debt obligation is satisfied.
Examples
- The bank placed a lien on the house until the mortgage was paid off.
- He was unaware of the lien against his property.
- A mechanic’s lien can be filed if payment for repairs is not received.
- The lien ensures that the creditor has a claim to the asset.
- She had to resolve the lien before selling her car.