Dictionary

  • Lien

    A type of security over property. Under a legal lien, a creditor has the right to retain possession of a debtor’s property until the debt has been paid. Where the property retained is connected to with the debt owed, the lien is a particular lien, where there is no connection, the lien is a general lien. An equitable lien may exist irrespective of possession and arises by operation of law rather than by express agreement, conferring on the creditor rights over certain property of the debtor.

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