Lien

A lien is a legal claim on a property that secures a debt or obligation. The most common lien is a mortgage lien — when you take out a mortgage, the lender records a lien against the property. Other liens include tax liens (unpaid property or income taxes), judgment liens (court-ordered debt), and mechanic's liens (unpaid contractor work).

Liens have priority order, generally by recording date. The mortgage lien is typically first in priority. Property can't be sold or refinanced cleanly until liens are satisfied (paid off or otherwise released).

Why it matters for Milo customers

A Milo crypto-backed mortgage creates a standard first-position lien on the property, just like any conventional mortgage. Milo's crypto-backed loans (not mortgages) don't create property liens — the loan is secured by crypto in custody, so the borrower's real estate stays unencumbered.

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