In law, a lien is a form of security
interest granted over an item of property to
secure the payment of a debt or performance
of some other obligation. The owner of the
property, who grants the lien, is referred
to as the lienor and the person who
has the benefit of the lien is referred to
as the lienee.
Generally a lien can
be in either a form of an agreement between
the two parties (the lender liens the buyers
property in case of default) or by statutory
provision as in the case of a tax lien
imposed by the government.
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