Liens
A lien is a right to retain possession of another person’s property pending payment of a debt. For example, a garage might not allow the owner of a car to retrieve it until the work they have done has been paid for. The holder of the property is not usually able to deal with it unless there is a contractual or statutory provision permitting this.
A lien may be:
- Legal (or possessory).
- Equitable.
- Contractual.
A legal lien can arise from a common law right, from contract or from statute. It is dependent on the creditor having rightfully obtained possession of the property and remains in force whilst the property is retained.
An equitable lien may arise from contract or by law of equity. It is the right to have property realised to satisfy outstanding debts and does not depend on possession of the property. It is based on the principle that possession of property under a contract for payment will not be allowed without payment.
A contractual lien arises from a contract between the parties.
[edit] Find out more
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
The sooner early warning notices can be appreciated as of mutual benefit rather than one-sided advantage, the better.
BSRIA responds to government green storage announcement.
What is phenomenology and how does it relate to the built environment?
Read about Belgrade's Brutalist landmark - the Western City Gate.
Clean indoor air for healthy living
Read about the measures that can be taken by individuals to protect and minimise exposure to outdoor sourced air pollution.
Government announces leaseholds on new-build houses will be banned.
Transport Secretary announces public consultation into London's funding of Crossrail 2.
Architecture of concert stages
Have a look at some of the most impressive concert stage designs of all time, including Pink Floyd, U2, Rolling Stones, and more...
What is the Home Quality Mark? Find out how it can help you when buying/renting a new home.
Business Secretary launches £246m Faraday Challenge to establish UK as world leader in battery technology.
Government announces new plans for regulations to improve safety and security awareness of drone users.
Read our introductory article to the various different types of fuel.
IHBC book review: Charles Barry’s monumental struggle to rebuild the Houses of Parliament.
Grenfell Tower articles updated daily
