A type of security against possession of property until a debt has been paid. This is relevant to executors as any claims against an estate's property would need to be paid when a sale of the property occurs. Liens are typically in place when an owner loses a lawsuit, and the lien incentivizes the owner to pay the judgement. As an executor, a lien could be a red flag that the estate has additional legal proceedings to be considered when settling the estate.
What you need to know
What to do when a loved one dies
When people die, they leave behind a life that must be closed out. Don't tackle it all alone. From planning the funeral to tackling the legal & financial estate, here's an ultimate checklist of all the things an executor needs to do following the loss of a loved one.
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