0
The right to take and hold or sell the property of a debtor as security or payment for a debt or duty.
Also can be said as
Wiki User
∙ 14y ago
Wiki User
∙ 9y agoA lien balance means there is money owing. If a bank repossesses a car and sells it for less than what is owed, you would have a lien balance.
Add your answer:
Earn +20 pts
What is mean by lien balance in bank account?
zero
If my balance is paid can my car be reposessed?
no if it is paid it is yours unless, there is a lien on it
What is a homophone for lean?
A homophone for "lean" is "lien," which is a legal term meaning a claim or right to property.
What word has the same meaning as balance?
there are meaning of balance, concordance proportion.
Commercial paper may show up on corporate balance sheets as either a current asset or a current liability?
commercial paper is like a bond it will show up on the balance sheet as a asset if there is no lien on it. It will also show as a liability if there is a lien on it.
Does auto insurance pay lien on totaled auto?
If an insured car is totalled the insurance company will issue a check made out to the lien holder and the owner jointly, both the lien holder and the owner have to endorse the check to cash it. If the value of the car is more than the lien, the lien gets paid off and the owner gets the remainder. If the value is less than the lien, and therefore, the insurer pays less than the outstanding balance on the loan, the lienholder will be entitled to it. Additionally, the owner will be liable for the balance owing after insurance proceeds are credited.
Can child support put a lien on a joint account if not you are not married?
Yes. That's why no one should open a joint account with someone who owes child support. At least half of the balance at the time of the lien can be frozen.Yes. That's why no one should open a joint account with someone who owes child support. At least half of the balance at the time of the lien can be frozen.Yes. That's why no one should open a joint account with someone who owes child support. At least half of the balance at the time of the lien can be frozen.Yes. That's why no one should open a joint account with someone who owes child support. At least half of the balance at the time of the lien can be frozen.
Will bankruptcy get rid of a judgment?
Yes, but if the judment has been secured (meaning the creditor has put a lien on the property) then the lien survives the BK, unless there is a motion to avoid a lien.
What happens when a lien is placed on a condo?
A lien on the deed -- unit's title -- clouds it, meaning that monies to satisfy the lien must be paid before clear title can be transferred.
In North Carolina can they sue or put a lien on your business for the remaining balance of a car repo?
YES, a lender can get a judgment for the balance owing on a loan after repo.
You have high unsecured debt can creditors get lien against your home or the equity of your home which is partially paid off?
If the creditors sue you for unpaid balance they can put a lien on your home if it is in your name.
How can you get the title to a vehicle with a lien on it?
The only way to get the title released is to pay off the lien. Most bank and finance companies will not release the lien until the loan is paid in full. if you are a good customer and have paid the lien as planned, they may release it if the balance is real low, but you still have to pay the loan.
