Lienholder

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Lienholder

The lender on a loan with collateral. When one has placed collateral on a loan, the lienholder has the right to take possession of the collateral in the event of default. One cannot sell the collateral until the loan is repaid.

Lienholder.

A lienholder is the bank, finance company, credit union, other financial institution, or individual with whom you signed an agreement to borrow money using a particular asset, such as a car, as collateral.

As long as there is a balance due on the loan, the lienholder must be repaid before you are free to sell the asset.

References in periodicals archive ?
Mechanics lien holders file against property owners of a project as protection against not getting paid by a general contractor or subcontractor.
The second lien holders included entities with names such as 1903 Onshore Funding LLC, Cortland Capital Market Services LLC and Sankaty Credit Opportunities IV LP.
The court granted judgment in favor of the mechanic's lien holder, and the lender appealed.
The perpetrators will go to a financial institution's website, take a picture of its logo, get a person's vehicle identification number and send a no-interest letter to the car owner, indicating there is no longer a lien interest from the lien holder.
Senchuk concluded that "[i]t is axiomatic that the position of a lien holder has no meaning unless and until a foreclosure action is initiated.
because second lien holders frequently receive a fraction of the total amount owed to them from a short-sale transaction, some are beginning to demand a payment from the seller, buyer or agent in an attempt to recoup losses in exchange for releasing their claim.
To the extent that the borrower's assets are sufficient to support both the first lien lender and the second lien holder's debt, the second lien holder obtains a position in the event of bankruptcy that is superior to unsecured creditors, including trade creditors, and that is usually behind only the first lien lender's first lien on the borrower's assets.
To make matters worse, many states' ethical opinions and rules of professional conduct can now be read to impose a duty to hold disputed funds (such as lien amounts) in the attorney's trust account and even to notify the ERISA lien holder of settlement.
A A potential lien holder must provide notice to the property owner (and to the general contractor, if the potential lien holder is a subcontractor) of the right to claim a lien.
The lease gives the business until April to buy the elevator from the lien holder, Citizens Bank of Kansas.
The largest lien holder is Lane County, which is owed about $78,000 for building permit violation fines, court expenses, security expenses and the cost of an environmental assessment to determine the extent of pollution on the site, said Jeff Towery, the county land management manager.
an individual, rather than a bank or financial institution, is named as lien holder.