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Definitions from the Web

Lien Amount

Definition:

A lien amount refers to the sum of money or value placed as a security interest or claim to ensure payment of a debt or obligation.

Senses:

1. Financial Term:

In finance, the lien amount is the specific sum of money that is legally considered as collateral against a loan or debt. It acts as a guarantee for the lender.

Example Sentence: The lien amount for the mortgage was set at $200,000.

Usages:

1. Property Lien:

In real estate, a lien amount can be placed on a property by a creditor to secure a debt owed by the property owner. This ensures that if the property is sold, the creditor will receive their owed amount.

Example Sentence: The contractor filed a lien amount against the homeowner's property for the unpaid renovation costs.

2. Tax Lien:

A lien amount can also be imposed by the government for unpaid taxes. This allows them to seize and sell off a taxpayer's property to cover the outstanding tax amount.

Example Sentence: The tax authorities imposed a lien amount on the delinquent taxpayer's house.

Related Products:

• Books about Lien Amount
• Finance Materials related to Lien Amount