Business and Personal Finance Dictionary

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• LIEN
  
  An interest or encumbrance held by a creditor in a debtor's real or personal property for the satisfaction of a debt. The lien may arise as a result of a consensual contract between the debtor and the creditor such as a security agreement or a mortgage. Alternatively, liens may be established by courts or by statutes. See consensual lien, judicial lien, and statutory lien.
  
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