Lien creditor

Lien creditor – this term details the legal figure of a creditor who has set up a lien on the debtor’s assets in order to secure payment of their debt. The enforcing a judgment against this property by the legal enforcement agent, in the form of a public auction, is called “lien of execution”. For example, this could be a local bank which has established a mortgage on an apartment in Bulgaria, purchased with a mortgage loan released by the bank.

Read more about some legal issues with Bulgarian off-plan property purchases: www.bulgariandeals.com

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