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What Does Possessory Lien Mean?

lien mean Possessory
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What Does Possessory Lien Mean?

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Property that is in the hands of, or is possessed by, the individual who grants the lien. A lien is the claim that one person has over the property of another as security for the payment of a debt. In a possessory lien, the creditor has a right to remain in possession of the property under the lien until the debtor has satisfied his or her debt.

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