voluntary lien

Voluntary Lien

A consensual claim to the property of another as collateral to ensure the repayment of a debt. The lien is voluntary because the debtor agreed to it; the placement of a voluntary lien is often necessary in order to secure a loan. An example is the lien placed on real estate to guarantee a mortgage. A voluntary lien contrasts with an involuntary lien, which may be imposed by a court or other body for non-payment of a debt.

voluntary lien

An agreement to allow the use of specific property as collateral for a debt. Contrast with involuntary lien.

References in periodicals archive ?
The reports include extensive home history data such as, insurance claims, building permits, incident history, voluntary lien history and a comprehensive list of natural hazards.
Housefax offers instant access to property details, voluntary liens, building permit history, emergency incidents and natural hazards.
The report includes extensive historical property data such as property details, voluntary liens, storm data, natural hazards, permit and contractor history, incident history, and more.

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