Senior Lien
/ˈsiːnjər liːˈɛn/
Definitions
- (n.) A lien that has priority over other liens on the same property or asset, usually securing debt repayment before junior liens.
The creditor held a senior lien on the property, ensuring repayment before any junior lienholders.
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Commentary
Senior liens are key in debt structuring; precise priority language in agreements is crucial to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.