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Frozen Asset |
Also found in: Wikipedia | 0.01 sec. |
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Frozen Asset An asset that the owner may not sell or use because of a debt that has not been paid. A frozen asset is often, but not always, the pledged collateral on the debt. The asset remains frozen until the debt is settled or the creditor is otherwise satisfied. Generally speaking, the asset's owner is notified in writing that his/her asset has been frozen, but this is not always the case.
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