Meaning of “first lien” in the English Dictionary

business-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 financial organization 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 company property.
They are the first lien holders.
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)