Management Glossary

  Search Results: lien
A lender's claim against certain property. In the case of a mortgage, the mortgaged building is the lien and, upon failure to make the specified mortgage paymentsand after execution of due legal process, the lender would have the right assume control of the building and sell it to recover the proceeds of the mortgage loan. Mortgages are only one type of financial instrument that creates a lien. For example, bonds can also create liens on specific assets or on the overall assets of the business.
Contributed by: ManagerWise Staff

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