Definition of "Waiver of lien"

Aniko Molnar-Szakolczai real estate agent
Aniko Molnar-Szakolczai, Real Estate Agent Callaway Henderson Sothebys International Realty

Voluntary giving up of a right of a lien, usually on a temporary basis. The waiver may be explicitly stated or implied. An example is when a lender waives its right of lien against secured property of the borrower because of missed payments on a mortgage.

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