An estoppel certificate is a legal document by which the mortgagor (borrower) certifies that the mortgage debt is a lien for the amount stated. Subsequently, the debtor is prevented from claiming that the balance due differs from the amount stated.
A frozen account refers to a bank account from which funds may not be withdrawn until a lien is satisfied or a court order is received freeing the balance. This situation can occur due to legal issues such as disputes over the ownership of property.
A general lien is a legal claim on all the property owned by the debtor, as opposed to a specific property lien, which targets particular assets.
A leasehold mortgage is a type of lien placed on the tenant's interest in real estate, which is generally subordinate to other liens on the property.
A lien is a legal right or interest that a creditor has in the debtor's property, which lasts until the debt obligation is satisfied. It is a type of encumbrance used to secure the payment of a debt, judgment, mortgage, or taxes.
A lienholder is an individual or entity that has a lien on a particular piece of property or asset, essentially providing them with a right to keep possession of it until a debt owed by the owner is discharged.
A pledge involves the deposit of personal property as security for a debt, typically entailing the delivery of goods by a debtor to a creditor until the debt is repaid. It is commonly defined as a lien or a contract that mandates the transfer of personal property only as security.
The right of redemption allows a property owner to recover their property that has been transferred due to a mortgage or other lien by repaying the debt, typically before or shortly after foreclosure. This right is also known as the equity of redemption.
Tax foreclosure is the legal process to enforce a lien against a property due to nonpayment of delinquent property taxes.
