Mortgage Lien in United States
Practical Information
Note: Some of this information was last updated in 1982
In a majority of the states (“lien theory” states), a mortgage (in U.S. law) on real property (in U.S. law) given as security for a debt is a lien on the property. It becomes a lien upon recording of the mortgage. All persons who thereafter acquire any interest in the property, such as subsequent purchasers or mortgagees, take the property subject to the mortgage lien. Even in “title theory” states, anyone dealing with land on which a mortgage has been given is bound by the mortgage. (See estoppel (in U.S. law) certificate.)
Priority as between successive mortgage liens
The general rule is that mortgage liens have priority according to the time they attach to the land. Recording may be required to give the lien effect.
What is Mortgage Lien?
For a meaning of it, read Mortgage Lien in the Legal Dictionary here. Browse and search more U.S. and international free legal definitions and legal terms related to Mortgage Lien.