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lien

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
Lien
When a creditor or bank has the right to sell mortgaged or collateral property of those who fail to meet the obligations of their loan contract.

Notes:
This is typically enforced under provincial or state laws.

Lien
A security interest in one or more assets that lenders hold in exchange for secured debtfinancing.
lien
The legal right of a creditor to sell mortgaged assets when the debtor is unable or unwilling to meet requirements of a loan agreement. A lien makes a bondholder's claim more secure.
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