单词 | unperfected lien |
释义 | unperfected lienDefinition A lien held by a creditor that has not taken the proper steps to determine that prior liens don't exist which could expose the creditor to a challenge of its senior position. For example, a mortgage that is not properly recorded to account for prior liens may be considered to be an unperfected lien and subordinated to a prior lien that was perfected. |
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