Blanket Lien
A lien covering nearly all types of assets and collateral owned by a debtor. Investopedia Says:
A lien usually only gives the creditor the right to a specific asset. A blanket lien gives the creditor a legal interest in all the debtor's assets and other collateral. Defaulting on a debt in this situation can result in "losing your shirt". Related Terms:
Blanket Mortgage
Collateral
Creditor
Encumbrance
Lien
Liquidation |