A lien in its simplest meaning is the term utilized to indicate any charge or duty imposed against a property. It is also used as a security for payment of obligation or some other debt. The government imposed this so that they can collect money to carry out public services.
There are certain liens that can jeopardize your asset protection goals. This is one of the methods that creditors can seize your assets if you fail to keep up with the tax dues. It is why it’s very important to have a thorough understanding of the various types of liens, in order to know how a certain type of tax lien can affect your property.