special lien
Definition
General lien that includes a right to sell the secured (mortgaged) asset or property in case of a default, after giving a reasonable notice to the lienee but without obtaining the foreclosure order required in other types of liens. A banker's lien, for example, is a special lien.
Mentioned in these definitions
Popular 'Agreements & Contracts' Terms
special lien in the news
This content can be found on the following page:
http://www.businessdictionary.com/definition/special-lien.html







