contract lien

contract lien
A security, charge, or claim in the nature of a lien on real or personal property whereof a party is the owner or in possession, which he may, by manifest intent and agreement create and which a court of equity will enforce against him, his heirs and personal representatives, and volunteers or claimants under him with notice of the agreement. See 33 Am J1st Liens § 19.

Ballentine's law dictionary. . 1998.

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