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Blanket lien is a lien that gives the lienee the entitlement to take possession of any or all of the lienor's real property to cover a delinquent loan. It covers nearly all types of assets and collateral owned by a debtor. A blanket lien is a floating lien that gives the creditor a legal interest in all personal property owned by the debtor. In the event of default, the creditor has the right to take, and, at its discretion, sell off any or all of the assets covered under the blanket lien.