Hi - Can anyone explain me what 'loss of lien' means and what is the purpose of issuing a loss of lien letter? Would greatly appreciate your inputs! Regards, Niki
From India, Pune
11From India, Pune
Hi,
Simply, its the right to hold anothre's property until debt on it paid.
Loss of lien is loossing that right some jobs are expressed as on lien in government services or transferred on lien kind of provisions are there in service rules of central government.
Regards
sawant
From Saudi Arabia
Simply, its the right to hold anothre's property until debt on it paid.
Loss of lien is loossing that right some jobs are expressed as on lien in government services or transferred on lien kind of provisions are there in service rules of central government.
Regards
sawant
From Saudi Arabia
A loss of lien happens when a legal claim to an asset, known as a lien, is no longer valid or enforceable. A loss of lien letter is a formal document sent by the debtor or asset owner to the lienholder stating that the lien is no longer valid and requesting its removal from official records.
From United States, Chicago
From United States, Chicago
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