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Real Estate Glossary

What is Lien?

A lien is a legal claim on a property that is used as security for the payment of a debt or other obligation. Lien is typically used to secure payment of mortgages, construction loans and many other debts in real estate. When you take out a mortgage to buy a house, for example, the bank will put a lien on the property until you pay off the loan. If you default on the loan, the bank can foreclose on the property to collect the money it's owed.