- possessory lien
Charge for an unpaid debt, enforced by having physical custody of the asset to which the lien applies. (Dictionary of Canadian Bankruptcy Terms)
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.
Look at other dictionaries:
Possessory Lien — Property that is in the hands of, or is possessed by, the individual who grants the lien. A lien is the claim that one person has over the property of another as security for the payment of a debt. In a possessory lien, the creditor has a right… … Investment dictionary
possessory lien — A lien which continues only during the possession of the lienor … Ballentine's law dictionary
Non-Possessory Lien — The legal claim against an asset in order to secure payment of the debtor s obligation. In a non possessory lien the lienor does not hold physical possession of the asset in question, only a legal right. For example, a creditor can place a non… … Investment dictionary
attorney's possessory lien — See retaining lien … Ballentine's law dictionary
lien — / lēn/ n [Anglo French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind]: a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the… … Law dictionary
Lien — For other uses, see Lien (disambiguation). Property law … Wikipedia
lien — lien1 lienable, adj. /leen, lee euhn/, n. Law. the legal claim of one person upon the property of another person to secure the payment of a debt or the satisfaction of an obligation. [1525 35; < AF, OF < L ligamen tie, bandage, equiv. to liga(re) … Universalium
possessory — Relating to possession; founded on possession; contemplating or claiming possession possessory action @ possessory claim The title of a pre emptor of public lands who has filed his declaratory statement but has not paid for the land @ possessory… … Black's law dictionary
lien — The right of one person to retain possession of goods owned by another until the possessor s claims against the owner have been satisfied. In a general lien, the goods are held as security for all the outstanding debts of the owner, whereas in a… … Big dictionary of business and management
Maritime lien — Admiralty law History … Wikipedia