Lien
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. The etymological root is Anglo-French
lien,
loyen "bond", "restraint", from Latin
ligamen, from
ligare "to bind". In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of mortgage or charge. In the USA, a lien characteristically refers to
non-possessory security interests. In other common-law countries, the term lien refers to a very specific type of security interest, being a passive right to retain property until the debt or other obligation is discharged. In contrast to the usage of the term in the USA, in other countries it refers to a purely
possessory form of security interest; indeed, when possession of the property is lost, the lien is released.