A lien sale is a type of sale in which a lienholder sells the rights to a debt to a third party. The third party then becomes responsible for collecting the debt from the debtor. This type of sale is often used when the lienholder is unable to collect the debt themselves.
Is lien a charge?
A lien is a legal claim or right against a property that secures payment of a debt or obligation. A lien could be placed on a person's home, car, or other property. The lien gives the creditor the right to take possession of the property if the debt is not paid. Which lien is an example of a specific lien? A specific lien is a type of lien that is placed on a particular piece of property. This means that the property cannot be sold without the lien being paid off first. An example of a specific lien would be a mortgage. What is the legal term for lien? The legal term for lien is "claim." What is first lien debt? First lien debt is the highest priority debt that a borrower has. This type of debt is typically secured by collateral, such as a home or a car. If the borrower defaults on the loan, the lender can seize the collateral to recoup its losses. First lien debt is typically less expensive than other types of debt, such as credit card debt, because it is considered to be a lower-risk loan.
What is a lien in debt?
A lien is a legal claim or right against a property, which gives the holder of the lien the right to sell the property in order to satisfy a debt. Liens can be placed on homes, vehicles, or other types of property, and they can be placed by creditors, the government, or other entities.