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Involuntary Lien

 
Banking Dictionary: Involuntary Lien

Judgment lien, lien for unpaid taxes or special assessment by a municipality that attaches to a real property without consent of the owner, in contrast with a Mortgage lien, which is voluntary.

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Real Estate Dictionary: Involuntary Lien
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A Lien imposed against property without consent of the owner (unpaid taxes, special assessments, etc.). Compare Mortgage Lien.
Example: The Absentee land Owner was not notified of the past-due tax bill. The tax Assessor placed a lien on the property that was an involuntary lien, since the owner did not take action to cause the lien.

 
 

 

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more
Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more