UK Accounting Glossary
This refers to the right to retain possession of goods or property that belongs to another person, until said person settles debts due to the possessor of the goods or property.
A lien is a right of a person to retain possession of the owner’s property until the owner pays what he owes to the person in possession. A specific lien is a lien over property which may be retained only until payment of the specific debt due in respect to that property is paid.
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Definitions for Accountant’s Lien are sourced/syndicated from:
This glossary post was last updated: 27th January 2019.