Discharge of lien refers to the removal or release of a legal claim, known as a lien, against a property or asset. Liens are typically placed on property as security for the payment of a debt or obligation. When the debt is paid off or satisfied, the lienholder issues a discharge of lien document, indicating that the lien has been released and the property is no longer encumbered. Discharge of lien may also occur through legal proceedings, such as a court order or judgment, or by expiration of the statutory time limit for enforcing the lien. Once a lien is discharged, the property owner regains full ownership and control of the property, free from any encumbrances.
The removal of a lien on real property after the claim has been satisfied.
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This glossary post was last updated: 29th March, 2024.
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