Contractual Lien

Definition

  • A legal claim against property as a result of a voluntary contract, such as a mortgage.

Synonyms
legal right, legal document, claim

Related Terms and Acronyms

  • Caveat Definition,
    • A charge or instrument placed on land title.
    • To give warning, notice or caution; beware.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Lien Definition,
    • A legal hold or claim of a creditor on the property of another.
  • Lien Waiver Definition,
    • A document in legal form signed by persons or firms which have lien rights, waiving those rights.
  • Mortgage (mtg) Abbreviation, Important,
    • A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
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