![]() ![]() A creditor may only take possession of a defaulting debtor's particular asset with a specific lien, even if the asset does not make up the value of the amount owed. In Oklahoma, there are general liens and specific liens a specific lien applies to particular assets, while a general lien applies to all of a debtor's assets. Liens have differing effects on different categories. Liens typically apply to real property however, liens also affect other types of assets, such as livestock, minerals, aircraft, attorneys, and artisans. If the debtor cannot repay the debt or satisfy an obligation, the creditor may take possession of the debtor's assets, foreclose, and sell them to recover the debt or payment. ![]() The lien grants the creditor a legal claim to the debtor's assets. Creditors file liens against debtors' assets a creditor may file a lien against a debtor's assets as security for the fulfillment of a financial obligation. An Oklahoma lien is a security that guarantees the fulfillment of an obligation or performance of an act. ![]()
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