First published at 16:13 UTC on April 1st, 2023.
Southern Africa's Common Law Team
Join brother-thomas, founder of Gift of Truth and SA Jural Assembly, as he shares knowledge about COMMERCIAL LIENS. A lien is a claim or legal right against assets that are typically used as collateral to sati…
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Southern Africa's Common Law Team
Join brother-thomas, founder of Gift of Truth and SA Jural Assembly, as he shares knowledge about COMMERCIAL LIENS. A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A creditor or a legal judgment could establish a lien. A lien serves to guarantee an underlying obligation, such as the repayment of a loan.
If the underlying obligation is not satisfied, the creditor may be able to seize the asset that is the subject of the lien. There are many types of liens that are used to secure assets.
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