Lien vs. Mortgage — What's the Difference?

A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee and the person who has the benefit of the lien is referred to as the lienor or lien holder.

A legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt

A claim upon a part of another's property that arises because of an unpaid debt related to that property and that operates as an encumbrance on the property until the debt is satisfied.

Convey (a property) to a creditor as security on a loan

The right to hold another's property as security for a debt owed.

A loan for the purchase of real property, secured by a lien on the property.

(obsolete) A tendon.

The document specifying the terms and conditions of the repayment of such a loan.

(legal) A right to take possession of a debtor’s property as security until a debt or duty is discharged.

The repayment obligation associated with such a loan

The spleen.

The right to payment associated with such a loan

Alternative form of lain

The lien on the property associated with such a loan.

A legal claim; a charge upon real or personal property for the satisfaction of some debt or duty; a right in one to control or hold and retain the property of another until some claim of the former is paid or satisfied.

To pledge (real property) as the security for a loan.

The right to take another's property if an obligation is not discharged

To make subject to a claim or risk; pledge against a doubtful outcome

A large dark-red oval organ on the left side of the body between the stomach and the diaphragm; produces cells involved in immune responses

(legal) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.

(obsolete) State of being pledged.

To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.

To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.

A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made.

State of being pledged; as, lands given in mortgage.

To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption.

Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.

A conditional conveyance of property as security for the repayment of a loan

Put up as security or collateral