Definition, Meaning & Synonyms
lienholder
noun
/ˈliːnˌhoʊldər/
Definition
A lienholder is a person or entity that has a legal claim or interest in a property until a debt owed by the property owner is paid off.
Examples
- The bank is the lienholder on the car loan, meaning they own the title until the loan is fully paid.
- When you take out a mortgage, the lender becomes the lienholder of your home.
- If you fail to make payments, the lienholder can take possession of the property.
Meaning
The lienholder retains a claim to the property as security for the repayment of a debt.
Synonyms
- Creditor
- Secured party
- Mortgage holder
