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Financial Lien Position

Glossary of Terms Related to Commercial Mortgages and Loans

The priority of a financial lien (most often created by a mortgage) relative to other financial liens against a property. If a lien is in "first position", this means that that lien must be satisfied "first" when any sale of the property occurs, and that its terms may be enforced via foreclosure without reference to other liens on the property.

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