Lien
- A lien is a form of security.
- A lien is granted by the owner of a property (the lienor) to provide security to a lender or those with an interest (the lienee). Similar to a mortgage or second charge.
- Failure to honour the terms of the lien could result in the the recovery of the value of the lien from the residual value of the property after being sold.
Published: 10 November 2013
Last Updated: 17 November 2021