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Lien |
Also found in: Medical, Legal, Encyclopedia, Wikipedia, Hutchinson | 0.03 sec. |
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Lien
Lien. A lien exists when you owe money to a lender on a particular vehicle or other asset, such as real estate, that has been used as collateral on a loan. An asset on which there's a lien can't be sold until the lienholder has been repaid. When you own an asset on which there's a lien, you risk having it repossessed if you default and don't make the required payments in full and on time. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Similarly, lienholders who were merchants sometimes discouraged food production in order to supply the needed commodities at exorbitant rates during the growing season, and then claim a larger portion of the crop at its end. Researchers found company managers sometimes have concerns that may tempt them to pad earnings--for example, improving their bonuses, appeasing shareholders or lienholders or both and attracting potential investors. The lienholders and the debtor then get to squabble about the division of the proceeds, while the assets transfer lien-free to the purchaser. |
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