Mortgage Lien Law and Legal Definition
Mortgage lien is a lien on the mortgagor's property securing the mortgage. It is a legal claim against a mortgaged property, which must be paid when the property is sold.
A mortgagee has an equitable lien as security for the debt. [In re Bertram, 8 B.R. 669, 670 (Bankr. N.D. Iowa 1981)]. When a mortgage lien attaches after construction is commenced, the lien of the mortgage lien claimant is superior to the liens of mechanics and material men who thereafter enter into separate contracts with the owner and furnish labor and material for separate segments of the construction. [AMERICAN-FIRST TITLE & TRUST CO. v. EWING, 1965 OK 98 (Okla. 1965)].
