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Blanket Lien

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Blanket Lien
A lien covering nearly all types of assets and collateral owned by a debtor.

Notes:
A lien usually only gives the creditor the right to a specific asset. A blanket lien gives the creditor a legal interest in all the debtor's assets and other collateral. Defaulting on a debt in this situation can result in "losing your shirt".
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Co-owners must share in any debt secured by a blanket lien in proportion to their undivided interests.
Sec. 1031 and fractional property interests by Mountain, Erin / The Tax Adviser
Upon sale of the property, debt secured by a blanket lien must be satisfied and then the proceeds must be distributed to the co-owners (i.
They're the new 'in' thing, but are TICs here to stay? by Frankel, Merrie S. / Real Estate Weekly
The largest secured creditor, Los Angeles-based Coast Business Credit, has a blanket lien on all the assets that is worth about $3 million.
PAYCHECKS GET THE BOOT; WORKERS FILING CLAIMS AGAINST WESTERN WEAR by Daily News (Los Angeles, CA)
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