general lien


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Related to general lien: Particular lien

General lien

An attachment that gives the lender the right to seize the personal property of a borrower who has not fulfilled the obligations of the loan, but prevents the lender from seizing real property.

General Lien

In a loan or liability, a lien against all personal property, and not simply on the property that the loan was used to buy. A general lien applies only to personal property; that is, real estate cannot be seized. Tax liens imposed by the IRS are general liens.

general lien

A lien that attaches to all property of a debtor located within the area where the lien was recorded.Judgments and IRS liens are general liens,which may be satisfied from the sale of any property found.Contrast with specific lien,which is upon specifically described property only.
References in periodicals archive ?
26 for each $100 face amount of the 3% general lien bonds [2].
This lien differs from the general lien established under Sec.
Terms also include lien restrictions, with standard carveouts and a general lien basket of $50 million.
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