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Simple English definitions for legal terms
Warehouseman's lien
Read a random definition: AMEX
A quick definition of Warehouseman's lien:
A warehouseman's lien is a type of security interest that a person can get when they store someone else's property. If the owner of the property doesn't pay for the storage services, the lien holder can keep the property until they get paid.
A more thorough explanation:
A warehouseman's lien is a type of security interest that can be obtained by a person or company that provides storage services for someone else's property. If the owner of the property fails to pay for the storage services as agreed, the lien holder may be able to keep possession of the property until the debt is paid.
For example, let's say that John owns a furniture storage company. Mary hires John to store her furniture for a fee. If Mary fails to pay the fee, John may be able to keep possession of the furniture until Mary pays the debt. This is because John has a warehouseman's lien on the furniture.
Another example could be a car storage company that has a warehouseman's lien on a car that has been left in their possession for an extended period of time without payment for storage fees.
These examples illustrate how a warehouseman's lien can be used to protect the interests of a storage service provider when a customer fails to pay for the services provided.