junior lien

Definition of "junior lien"
  1. A lien that is ranked lower than other liens and will be paid off after primary liens
How to use "junior lien" in a sentence
  1. The bank holds a junior lien on the property which is only settled after the principal mortgage.
  2. As an unsecured creditor, the credit card company ended up with a junior lien and received its payment last.
  3. During the bankruptcy proceedings, it was revealed that the business had a junior lien attached to its warehouse.

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