MLchartDataset catalogue

Junior lien

Term · Law · MLC-T-LAW-002855

A lien that is subordinate to another lien on the same property, meaning it will be paid only after the senior lien is satisfied in the event of a foreclosure or sale. The priority of liens is typically determined by the order in which they are recorded. A second mortgage is a common example of a junior lien.

Table 1. Record
IdentifierMLC-T-LAW-002855
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002855",
  "term": "Junior lien",
  "field": "Law",
  "definition": "A lien that is subordinate to another lien on the same property, meaning it will be paid only after the senior lien is satisfied in the event of a foreclosure or sale. The priority of liens is typically determined by the order in which they are recorded. A second mortgage is a common example of a junior lien.",
  "url": "https://mlchart.com/terminology/law/junior-lien/"
}

Record 2,795 of 5,445 in Law terminology (MLC-0107). Request the full dataset.