preclosing lien search

preclosing lien search
An investigation of the appropriate public records, conducted shortly before the closing of a secured transaction, to determine the likely priority that will be received for the creditor's security interest in the proposed collateral.
See lien search. American Banker Glossary

Financial and business terms. 2012.

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Look at other dictionaries:

  • lien search — The process or the result of investigations into the outstanding liens in a pledgor s or potential pledgor s property. The lien search not only investigates the existence of all liens but also the relative priority of those liens. For personal… …   Financial and business terms

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