Lien Release
Definition of "Lien release"
A written document terminating the terms of a lien through payment of all financial obligations. A lien release is given by the lienor, the one holding the lien, to the lienee, individual whose property is subject to the lien, as evidence of the lien's satisfaction.
Popular Real Estate Terms
So, you’re out and about your homebuying dream and then you stumble upon this question: what is a condominium? Like, you think you know what is a condo home, but it's so hard to ...
Ownership of property by one individual. ...
Funds that are retained in an account until a certain event occurs. For example, a downpayment on a contract held until full payment is received whereupon the holding funds are credited to ...
Buyer who is acting in good faith, is not aware of any outstanding claims or rights of others to the property, and has given valuable consideration as part of the business transaction. ...
A relatively unknown term, laches or the” doctrine of laches,” means failure to assert one’s rights or a claim in a given matter in time. Failing to take action on a ...
Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third ...
To acquit, exonerate, absolve, or discredit allegations. ...
Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...
The meaning of direct costs implies such expenses that you can connect straight to a particular goods’ or service’s production, manufacturing, and preparation. As opposed to ...
Have a question or comment?
We're here to help.