first lien Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “first lien” in the English Dictionary

"first lien" in Business English

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first liennoun [C or U]

uk   us   (also priority lien)
LAW, FINANCE the ​right of a ​person or ​financialorganization to be the first to take the ​assets of someone who ​owes them ​money if the ​debt is not ​paid: first lien on sth The ​bank will ​hold a first ​lien on the ​companyproperty. They are the first ​lienholders. first-lien ​debt/​mortgage The ​home remains unfinished, and they have ​filed a first ​lien against the ​builders to ​recover the $67,000 they put down when they ​signed the ​agreement.
(Definition of first lien from the Cambridge Business English Dictionary © Cambridge University Press)
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