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Related to Lein: Lenin, Leon, line, lien, Clojure


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


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.


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.


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.


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 ?
Edin and Lein conclude that in order to make ends meet without welfare, a low-skilled woman needs something special.
Edin and Lein found that the mothers they interviewed weighed the complex pros and cons of AFDC versus a job very carefully, evaluating the low benefits, the stigma of welfare and the guarantee of Medicaid versus the somewhat higher pay coupled with higher expenses, greater self-esteem and respect from the community, yet constant threat of layoffs and possible loss of Medicaid.
Eleni, mi fydd lein dren Waverely rhwng Caeredin a Carlisle yn agor - lein arall wynebodd gyllell Beeching.
Ray Lein won gold as he triumphed in the middleweight division, the final reaching a nail-biting climax after ending in a draw.
SUN Parents head for the heat of Spain for family holidays TOP CHOICE Loch Lein Country House, Killarney, Co Kerry FAVOURED Killeen House, Killarney
Lein, 30, said: "When he didn't stop me he swam out to show me how hard it was for him to get back.
Bydd cyfle i fwrw golwg ar stori stribed newydd ar lein, sef Planed Roc, ac fe gawn weld pa leoliad yng Nghymru sy'n haeddu ei le ar restr Can Lle Gofod yr wythnos hon.
Lough Lein Leader chased home Pennymaid last time, and a reproduction of that effort should suffice to land the Mares Winners of one, where Champagnesupernova, reads the danger.