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floating lien


floating lien, defined:

a legal interest in another's property as security for a debt (lien) that includes property acquired after the debt was incurred. A floating lien is a method for guaranteeing that an obligation is met while eliminating the need to place a series of individual liens.

floating lien, as it might be used:

The vendor placed a floating lien against all the company's assets, present and future.
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