A right placed on a property as security for a debt.
It is usually registered in favour of a bank when a housing loan is taken. It appears on the deed until the debt is cleared and does not directly prevent a sale, but a buyer does not want to take on a property with a lien.
In practice the debt is settled during the sale and the lien lifted the same day; this can be done simultaneously at the registry appointment. As a seller, find out your outstanding balance and the cost of settling it in advance.
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