Lien

Real estateGlossary term

Definition

A legal claim against property for unpaid debts. Must be satisfied before the property can be sold. Common types include tax liens, mechanic's liens, and judgment liens.

Related terms

MortgageA loan used to purchase real estate where the property serves as collateral. The borrower makes regular payments over a set term (typically 15-30 years) until the loan is paid off.

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