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What are the different types of liens?

There are many types of liens that are used to secure assets. A lien is a claim or legal right against assets that are usually used as collateral to satisfy a debt. The creditor may be able to seize the asset that is the subject of the lien. Bank, real estate, and tax are three types of liens.

What is a lien on a property?

A lien is a claim or legal right against assets that are usually used as collateral to satisfy a debt. The creditor may be able to seize the asset that is the subject of the lien. Bank, real estate, and tax are three types of liens. If a contract on a property is not paid, the lender has a legal right to seize and sell the property.

What is a mortgage lien?

Liens are claims against property that are either granted by the property owner—to a mortgage lender, for instance—or imposed by someone filing a claim against the property owner.

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