Liens will get arise courtesy borrowing from the bank transactions where in actuality the bank are supplied a good lien on the borrower’s property
Lien – A declare of the a collector on the property or assets from a debtor where the possessions can be held because protection otherwise sold in satisfaction (complete otherwise limited) from an obligations. Almost every other samples of liens tend to be income tax liens against real estate that have delinquent taxation, an excellent mechanic’s lien up against property on what really works has been performed, and you may an excellent landlord’s lien facing crops grown up by the an occupant.