What is lien?

A lien is the right of a creditor in possession of goods, securities or any other assets belonging to the debtor to retain them until the debt is repaid, provided that there is no contract express or implied to the contrary. It is a right to retain possession of specific goods or securities or other movables of which the ownership vests in some other person, and the possession can be retained till the owner discharges the debt or obligation to the possessor.

Thus, it is a legal claim by one party on the property of another as security for payment of a debt.