lien-theory state

lien-theory state definition - business

lien-theory state

A state in which the buyer of property holds the deed, and the mortgage held by the lender becomes a lien that is removed when the loan is fully repaid. Compare title-theory state.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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