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Lienholder |
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Lienholder The lender on a loan with collateral. When one has placed collateral on a loan, the lienholder has the right to take possession of the collateral in the event of default. One cannot sell the collateral until the loan is repaid. Lienholder. A lienholder is the bank, finance company, credit union, other financial institution, or individual with whom you signed an agreement to borrow money using a particular asset, such as a car, as collateral. As long as there is a balance due on the loan, the lienholder must be repaid before you are free to sell the asset. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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