What is the difference between a lien and a lien foreclosure?

A lien is a legal claim against a property for the purpose of recovering a debt or other obligation. It can be created by a court order or an agreement between the property owner and another party. A lien must be registered with the appropriate county or state real estate registry in order for it to be valid. A lien foreclosure is a legal process which allows an individual or entity who owns a lien on a property to take possession of the property in order to collect on a debt. In the state of Washington, lien foreclosure is a two-step process. The first step is a court hearing where the court will determine whether or not the lien is valid and the amount of the debt that is owed. The second step is a public auction where the property is sold to the highest bidder to pay off the lien. The primary difference between a lien and a lien foreclosure is that a lien is a passive way of securing payment on a debt, while a lien foreclosure is an active process of taking possession of the property in order to recover the debt. With a lien, a creditor holds the lien and waits for the property owner to make a payment on the debt. With a lien foreclosure, the creditor will take possession of the property and sell it to the highest bidder in order to collect on the debt.

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What is the difference between a lien and a lien foreclosure?

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