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To The Left, To The Left - What's a Lien
JUST THE FACTS 
Tags: Lien, Real Estate, Buying Real Estate, Selling Real Estate, Real Estate Problems
There are many real estate terms which you may not be familiar with a "lien" may be one of them. Here is a quick list of what a lien actually is.
| | In law, a lien is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. |
| | The owner of the property, who grants the lien, is referred to as the lienor and the person who has the benefit of the lien is referred to as the lienee. |
| | In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of mortgage or charge. |
| | In the U.S., a lien characteristically refers to non-possessory security interests. |
| | In other common law countries, the term lien refers to a very specific type of security interest, being a passive right to retain (but not sell) property until the debt or other obligation is discharged. |
| | Another distinction between the U.S. and other common law countries is in the pronunciation. In the U.S. the word is usually pronounced "leen", whereas in other countries is more normally enunciated as "lee-yen". |
| | In the U.S. - tax liens, imposed to secure payment of a tax, "weed liens" and "demolition liens", assessed by the government to rectify a property from being a nuisance and public hazard;attorney's liens, against funds and documents to secure payment of fees, mechanic's liens, which secure payment for work done on property or land, judgment liens, imposed to secure payment of a judgment, maritime liens, imposed on ships by admiralty law.. |
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