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Real Estate Definition - lien

lien - any of a variety of encumbrances attaching to real or personal property, either voluntarily, as in the case of securing a loan to acquire property, or involuntarily, as in the case of a money judgment awarded by a court that encumbers the judgment debtor's property until the judgment is satisfied. An encumbrance resulting from a taxing authority securing unpaid taxes or an encumbrance placed on property for nonpayment of workers or material suppliers in a construction project. See also encumbrance and mechanic's lien.



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