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Lienholder
Meaning
Noun
●
In Law & People:
Used in
instances
of
title
of
property
(such as a
vehicle
) to
refer
to the person who has right of
property
,
as opposed to
the
party
that
merely
has right of
possession
. The
party
that only has right of
possession
is
refer
red to as a
registered
owner
, and
in the event
the
registered
owner
fails
to
pay off
the
lien
according to
the agreed-to terms, the
lienholder
has the right to
invoke
repossession
of the
property
(vehicle).
Sourced from
Wiktionary
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