Possessory Lien: Canada Debt .ca defines Possessory Lien

Bankruptcy Term Possessory Lien

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Canada Debt has the definition to the bankruptcy and debt term Possessory Lien. Finding answers to terms such as Possessory Lien can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Possessory Lien in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Possessory Lien' is used as follows:

Charge for an unpaid debt, enforced by having physical custody of the asset to which the lien applies.