Legal Question in Credit and Debt Law in Virginia

Liens

What is a Lien and what does it mean?


Asked on 3/20/00, 3:26 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Liens

A lien is an interest in property securing a debt. Liens can be consensual (mortgage, etc.); statutory (tax liens); or judicial (judgmdent liens). The effect of a lien is that if you don't pay a debt, the creditor can sell the property subject to the lien towards satisfaction of the debt.

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Answered on 3/25/00, 4:46 pm


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