Lien

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Related to spleen: liver, pancreas, Ruptured spleen

Lien

A security interest in one or more assets that lenders hold in exchange for secured debt financing.

Lien

The ability of a lender to sell the collateral if the borrower defaults on a loan. For example, if a loan is secured by one house, the bank or other lender has a lien on the house. It may foreclose and sell the house if the borrower does not make payments in a timely manner. A lien makes a loan less risky for the lender and may entitle the borrower to a lower interest rate or even a higher line of credit. See also: Secured Bond, Mortgage.

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.

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.

lien

A legally enforceable claim on the property of another as a result of a debt or obligation. It may be voluntary,such as a mortgage,or involuntary,such as a tax lien.It may be general,such as a judgment lien on all property within a county,or specific,such as a mortgage lien on the described property. One of the most important concepts in lien law is the priority among competing liens if property is insufficient to pay all claims or if the owner files for bankruptcy.The general rules are as follows (however,there may be local variations among the various states):

1. The first lien to be recorded is paid first, and so on in the order of recordation.

2. A statutory lien, such as a mechanics' and materialmen's lien, may be given artificial priority even though recorded after another lien.

3. Lien priority may be reshuffled if a debtor files for bankruptcy. The rules are too complex to examine here.

4. Lien-stripping takes place in bankruptcy when an asset is not worth as much as the accu- mulated liens placed upon it. Junior lienholders are stripped out and turned into unse- cured creditors. Even mortgage liens may be reduced in amount, if the real estate is not worth as much as the loan balance.

5. A landlord's statutory lien for unpaid rent can be avoided, or set aside, by a bankruptcy trustee, but a landlord's contractual lien cannot be avoided unless lien-stripping comes into play.

References in periodicals archive ?
Whatever the story, you can get a bottle of Chasse Spleen for between PS25 and PS40 depending on the vintage which is hardly much for his Lordship, but a touch extravagant for people without a butler.
Evolution of the CT imaging findings of accessory spleen infarction.
Our study documents the presence of 3 zoonotic Bartonella species in heart valves and/or spleen of free-ranging coyotes from northern California.
Coroner Andrew Barkley recorded a narrative verdict, stating: "Janice Simon died from the effects of a ruptured spleen.
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What could have possibly led to splenic infarction in this patient is sudden enlargement of the spleen in response to overwhelming infection with subsequent hypoxic injury.
According to the study results, treatment was associated with reductions in spleen size and other disease symptoms in 31 randomized patients.
Medical advice shows he should have been vaccinated against several deadly diseases and given regular boosters, as having no spleen lowered his immune system.
Triple-phase CT is usually performed to differentiate pancreatic lesions, and the attenuation of accessory spleens in the pancreas is usually identical to that of the spleen in all three phases.
But his death certificate shows he died of abdominal bleeding due to a ruptured spleen.
Dr Scott, who carried out a postmortem examination, said Mr Kumar, known to friends and family as Sunny, died of a cardio-respiratory arrest after suffering a massive haemorrhage when his spleen ruptured.
His spleen has been removed, one kidney has been damaged and he needs major graft surgery," they said.