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] Related articles on Designing Buildings Wiki
Featured articles and news
The new normal for ventilation
Predictions about adequate post-pandemic IAQ in non-domestic buildings.
Government publishes plans to 'build back greener'.
Fire safety exclusions and insurance
The contentious nature of claims associated with cladding, fire safety and EWS1 forms.
ECA comments on low-carbon heating systems initiative and Heat and Buildings Strategy.
Victorian dust heaps of London
Cinders and other forms of domestic rubbish created filth but also generated great wealth.
Young professionals in construction survey
CIC 2050 Group requests input to find out priorities for future industry leaders.
Conservation Principles for North Ireland
IHBC publishes response to consultation.
Budget 2022 - CIOB Ireland responds
Institute applauds funding initiatives but presses for additional retrofit and tax measures.
Electrotechnical sector prepares for All-IP networks
The switch from analogue to digital has begun.