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Related to floating lien: Floating charge, chattel mortgage, After-acquired property, Blanket Lien, Warehouse receipt
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
floating lienSometimes refers to the lien of an anaconda mortgage that attaches to additional property acquired after a mortgage loan is originated. More properly refers to a lien on goods or inventory that change constantly, as in financing for a retail establishment.The lien floats among items as they come into the store and are available for sale,detaching itself as the goods are sold to consumers.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.