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What is the difference between a lien and a mortgage?
A lien is a legal claim on a property to secure a debt, while a mortgage is a type of loan used to purchase a property, with the property itself serving as collateral for the loan.
Is a loan considered a lien?
Yes, a loan can be considered a lien if the lender has a legal claim on the borrower's property as collateral for the loan.
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
Is a lien the same as a loan?
No, a lien is not the same as a loan. A lien is a legal claim on an asset as security for a debt, while a loan is money borrowed from a lender that must be repaid with interest.
Is a lien considered a type of loan?
No, a lien is not considered a type of loan. A lien is a legal claim on an asset as security for a debt or obligation, while a loan is a sum of money borrowed from a lender that must be repaid with interest.
What is the difference between vacate and satisfaction of a lien?
The difference between vacate and satisfaction of a lien is the way in which it was surrendered. During a vacate of a lien, the creditor is releasing the lien on a loan, usually because of a full repayment. The satisfaction of a lien would be like a repossession for non payment to a creditor.
What is the difference between a lien and a mortgage?
A lien is a legal claim on a property to secure a debt, while a mortgage is a type of loan used to purchase a property, with the property itself serving as collateral for the loan.
What is the Difference between a mechanic's lien and an artisan's lien?
Artisans lien is against personal property and is possessory. Mechanic's lien relates to real property.
Is a loan considered a lien?
Yes, a loan can be considered a lien if the lender has a legal claim on the borrower's property as collateral for the loan.
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
Is a lien the same as a loan?
No, a lien is not the same as a loan. A lien is a legal claim on an asset as security for a debt, while a loan is money borrowed from a lender that must be repaid with interest.
What is the difference between a transfer of lien and release of lien?
A transfer of lien assigns the lien claimant's position in the lien to another party. A release of lien discharges the lien and makes it not appear on a title policy issued for the property.
What is difference between general lien and perfect lien?
The general lien refers to any type of security while a perfect lien refers to a specific type of security.
Can a loan company put a lien on your car if its not paid off?
If the vehicle was put as collateral for the loan, there already is a lien on it.
What is the statue of limitations on a car lien?
The lien is no longer applied to the vehicle when the loan is paid off. You can then get a lien release from the lender. As long as the loan has not been paid off the vehicle still has a lien on it.
Is a lien considered a type of loan?
No, a lien is not considered a type of loan. A lien is a legal claim on an asset as security for a debt or obligation, while a loan is a sum of money borrowed from a lender that must be repaid with interest.
How do you put a lien on a vehicle?
how can i put a lien on a motor vehicle for a loan that was put out and no payment made yet on the personal loan
