voluntary lien

voluntary lien definition - business

voluntary lien

A claim placed on real property by a lender with the consent of the property owner. For example, a person purchases a home by willingly taking out a mortgage that serves as a lien on the property.

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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