Business, Legal & Accounting Glossary
A lien that can be placed on a property as set forth in the terms of a contract if the party purchasing the property defaults on agreed debt payments. This is in contrast to a lien or claim that can be placed on a property under common law regardless of whether both parties agreed to such a stipulation in a contract.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Contractual Lien are sourced/syndicated and enhanced from:
This glossary post was last updated: 20th November, 2021 | 0 Views.