Lienholder

Business / Taxes / Lienholder: A lienholder is the bank, finance company, credit union, other financial institution, or individual with whom you signed an agreement to borrow money using a particular asset, such as a car, as collateral. As long as there is a balance due on the loan, the lienholder must be repaid before you are free to sell the asset.

Lien

Business / Accounting / Lien: A court order where a creditor places a claim on property or other types of security owned by the debtor to recover the costs of the debt. MORE

Antimerger Clause

Business / Real Estate / Antimerger Clause: A clause in a mortgage or deed of trust specifying that the senior lienholder will retain lien priority in the event of a merger. MORE

Subordination Agreement

Business / Real Estate / Subordination Agreement: A written agreement between lienholders to change the priority of mortgage, judgment and other liens. Under a subordination agreement, the holder of a superior or prior lien agrees to permit a junior MORE

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