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.
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.
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 bank loan and bank credit?
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.
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.
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.
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.
Artisans lien is against personal property and is possessory. Mechanic's lien relates to real property.
What is the difference between bank loan and bank credit?
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.
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.
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.
The general lien refers to any type of security while a perfect lien refers to a specific type of security.
If the vehicle was put as collateral for the loan, there already is a lien on it.
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.
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 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