Any person or organization that holds a legal claim over the specific property of another as security for debt
A financial institution (e g , bank, credit union, etc ) which may become the owner of the property, if there is a lien against it Several factors may influence who is awarded custody of the property The owner may have incorporated insurance into a loan and named a benefactor A co-owner maybe involved or the heirs, next of kin, or legal representative of the owner may still retain rights unless payments stop and the lien holder calls for final payments (Legal assistance shall be solicited to resolve such issues )
A person or company who has a legal interest in an object owned by another person Ex The loan on a vehicle The company issuing the loan is the lien holder