Lien

{
  "id": "MLC-T-INS-002002",
  "term": "Lien",
  "field": "Insurance and risk management",
  "definition": "A legal claim or right against assets that are used as collateral to satisfy a debt or obligation. In insurance, a lienholder, such as a bank financing a car, has a financial interest in the insured property. If the property is damaged or destroyed, insurance proceeds may be paid directly to the lienholder to cover the outstanding debt.",
  "url": "https://mlchart.com/terminology/insurance/lien/"
}