Saturday, July 25, 2015

Definition of 'General lien' in real-estate

Definition of 'General lien' in real-estate


General lien is against the borrower instead to a particular property and it applies to all properties belonging to the borrower, hence the name 'General' lien.

A good example of a general lien is an IRS / income tax lien, the IRS would usually file a general tax lien against a person or organization instead to any particular personal property.

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