When you take up a loan and want to consent to another party holding your property in lien, you can use this Lien Holder Authorization Letter to effect this agreement.
[Sender’s Name]
[City, State and Zip Code]
[Email Address]
[Date]
[Recipient’s Name]
[City, State and Zip Code]
[Phone Number]
Reference: Lien Holder Authorization to [Authorized person]
To Whom It May Concern,
This letter authorizes [Name] to hold my property in lien until the full payment of [Amount] owed to them. The property held is [Details on the held property] located at [Address]. The property’s market value as of [Date] is [Amount].
This authorization will take effect on [Date] after the first installment payment. In default, the lienholder is authorized to sell the property held and recover the amount. I have included the documentation to legalize this authorization letter. For any clarification, contact me on [Mobile Number].
Sincerely,
[Sender’s Signature]
[Sender’s Name]
