priority lien

A priority lien is a legal claim on a property that takes precedence over other claims or debts in case of unpaid bills or mortgages. It determines the order in which creditors get paid if the property is sold or foreclosed. Typically, the first lien recorded on a property, such as the primary mortgage, has the highest priority and is paid first. Subsequent liens, like second mortgages or tax liens, are paid after the primary lien and only if enough funds remain. This system helps organize debt repayment and protect the rights of different creditors.