Virgin Islands Partial Release of Lien on Leasehold Interest in Part of Lands Subject to Lease
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How to fill out Partial Release Of Lien On Leasehold Interest In Part Of Lands Subject To Lease?
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FAQ
What is the Difference Between a Lienholder and a Lessor? Here's the key difference between a lienholder and a lessor: Lienholder: When you finance a car, your lending company is the lienholder until your car is fully paid off. Lessor: When you lease a car, the party responsible for your lease is called a lessor.
When you finance a car, you typically make monthly payments to the lienholder. When you lease a vehicle, you pay monthly to drive the vehicle, but you don't own it when the lease is up. With a lease, a lienholder isn't involved. The party responsible for your lease is called your lessor.
A lienholder is a lender that legally has an interest in your property until you pay it off in full. The lender ? which can be a bank, financial institution or private party ? holds a lien, or legal claim, on the property because they lent you the money to purchase it.
While a lienholder is the owner of the loan that you took out to finance your car, you have a lessor when you lease your car. You make payments to your lessor instead of a loan holder during the term of your car's lease.
