Mortgage Lien

Definition

• A legal claim against a mortgaged property which must be paid when the property is sold.

Synonyms
mortgage charge, hold on property, mortgage claim, security on property

Related Terms and Acronyms

• Claim — Definition,
  • A creditor's assertion of a right to payment from a debtor or the debtor's property.
• Lien — Definition,
  • A legal hold or claim of a creditor on the property of another.
• Mortgage (mtg) — Abbreviation, Important,
  • A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.