Lien
A lien is a legal claim or charge against property to secure payment of a debt or performance of an obligation. Liens can affect a seller's ability to convey clear title and are a standard focus of title review and payoff/termination obligations at closing.
- Where it applies
- Generally, not specific to New York
- When it comes up
- Due Diligence / Closing
- Property types
- Residential, Commercial (Retail/Office/Industrial), Mixed-Use
Read more in the Knowledge Base
- Mechanic's Liens and Title Curative ActionsBuyers
- Title and Lien Risk MitigationSellers
- How Long Does It Take to Sell an Apartment in NYC?Sellers
- Boundary Lines, Surveys, and Title Defects in New York Residential PurchasesBuyers
- Selling Co-op Shares vs. Condo Units - Verified Tax and Process DifferencesSellers
Related terms
Core Real Estate Fundamentals
- ACRIS (Automated City Register Information System)
- Bargain and Sale Deed with Covenants
- Contract of Sale
- Lis Pendens (Notice of Pendency)
- Survey (ALTA/NSPS Survey)
- Title Search
General information, not legal, tax or financial advice.