Phrases with «senior lien»

A senior lien refers to a legal claim that has priority over other liens or debts on a property. It means that if there are multiple liens on a property, the senior lien must be paid off first before any other liens can be addressed. This gives the holder of the senior lien a higher chance of recovering their money in case of foreclosure or sale of the property. Full definition

senior lien

Sentences with «senior lien»

However, there are also senior liens in the form of judgments. (sapling.com)
The SBA describes the program thusly: «Typically, a 504 project includes a loan secured with a senior lien from a private - sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from the CDC (a 100 percent SBA - guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the small business being helped. (inc.com)
The TIFIA loan has a senior lien on pledged revenues, while the RRIF loan has a subordinate lien. (transportation.gov)
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Phrases with «senior lien»

Sentences with «senior lien»

See also