Lien

A Lien is a legal claim against a property to protect a creditor's rights.

• Context:
  • It ranges from being a Close End Lien to being a Open End Lien

• See: Creditor's Rights, Legal Claim, Security Interest.

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References

2016

• (Wikipedia, 2016) ⇒ http://en.wikipedia.org/wiki//Lien Retrieved 2016-11-06
  • QUOTE: A lien is more common in both UK and US English. is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee and the person who has the benefit of the lien is referred to as the lienor or lien holder.

• (MSRB,2016) ⇒ Glossary of Municipal Securities Terms (2016): http://www.msrb.org/Glossary/Definition/CLOSED-LIEN-OR-CLOSED-END-LIEN.aspx Retrieved 2016-11-06
  • QUOTE: A general characterization of the security provisions on a revenue bond where these provisions preclude the issuer from issuing any additional bonds that have an equal claim on the pledged revenues or other security

• (MSRB,2016) ⇒ Glossary of Municipal Securities Terms (2016): http://www.msrb.org/glossary/definition/open-end-lien.aspx Retrieved 2016-11-06
  • QUOTE: Provisions in a bond contract that permit the issuer to issue additional bonds that have an equal claim on the pledged revenues under certain circumstances (typically upon satisfaction of an additional bonds test).

2008

• (MA DoR, 2008) ⇒ Massachussets DoR. (2008). “Municipal Finance Glossary.” Massachussets Department of Revenue - Division of Local Services
  • QUOTE: Lien – A legal claim against real or personal property to protect the interest of a party (i.e., a city or town) to whom a debt is owed (i.e., taxes). In the case of real property, the lien in favor of a municipality automatically arises each January 1, but must be secured through other action. (See Lien Date)

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