Lien, Junior
Subordinate lien to a previous lien. Generally attached after a previous, and therefore senior, lien has been attached to property. In the event of a foreclosure action where there are insufficient proceeds to cover all the claims against the property, a junior lien can be satisfied only after all senior liens are satisfied.
Popular Real Estate Terms
Once of a set of timbers used in the construction of a building or for esthetic purpose, the land around a property for beautification. ...
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fee to use a bridge or tunnel. Fee assessed to use someone else's property. ...
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