flag

Made, Stored and
Supported in the USA

Contractual Lien

There are many kinds of liens (tax liens, mechanic’s liens, judgment liens and statutory liens, for example), and indeed most of them are non-consensual. But, a contractual lien is a legal claim against property as a result of a voluntary contract, such as a mortgage. The person holding the lien has a legal right to the other person’s property if he or she fails to pay what’s owed.