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Wiktionary (0.00 / 0 votes) rate this definition: blanket lien (Noun) A lien that gives the lienholder the entitlement to take possession of any or all of the lienee’s real property to cover a delinquent loan.
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A lien on all or nearly all of a debtor’s assets. In the event of default, the creditor has the right to take, and, at its discretion, sell off any or all of the assets covered under the blanket lien.
Wrap Mortgage Definition Wrap-Around Mortgage. A mortgage loan transaction in which the lender assumes responsibility for an existing mortgage. Usually, but not always,
A blanket lien, also called a UCC-1 lien, gives a lender a legal claim to all of a borrower’s business assets if the borrower defaults on the loan. In the event of a default, the lender can seize all of the business’s assets up to the value of the debt, and sell them to repay the debt.
A blanket lien is a lien that gives the right to seize, in the event of nonpayment, all types of assets serving as collateral owned by a debtor. A blanket lien, theoretically, gives a creditor a …