Simple English definitions for legal terms
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A lien is when someone owes money to another person or company and that person or company has the right to take something of value from the person who owes them money until the debt is paid off. This is like a security deposit. If the debt is not paid, the person or company can take the valuable thing. There are different types of liens, like for farmers, people who work on cars, or people who store things for others.
A lien is a legal right or security interest that a creditor has in a person's property. This means that the creditor has the right to take possession of the property if the person fails to fulfill their obligation to the creditor. The lien remains in effect until the obligation is satisfied.
There are different types of liens, including:
Some examples of liens include:
These examples illustrate how a lien can be used to ensure that a creditor is paid for their services or goods. If the person who owes the debt does not pay, the creditor can take possession of the property that is subject to the lien.