MEDICAL,USA: 1. Claim on the property of another as security for a debt. 2. In litigation cases, it is a legal promise to satisfy a debt owed by the patient to the physician out of any proceeds received on the case.
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A charge upon real or personal property as security for some debt or duty. Also, the security interest created by a mortgage or automobile loan. The conditions of an insurance policy require the disclosure to the insurer of any existing lien on the insured property.
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A claim of one person upon the property of another as a security for some debt or charge.
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UK: The right to hold someone’s property as security for the performance of an obligation. A broker who, as agent, pays the premium and receives the policy, may retain it under the broker’s lien until reimbursed. These rights depend on proper performance by the agent of his duties. The lien does not usually apply to money due from another broker or sub-agent. In life insurance lien means debt. A carrier’s lien which operates in a similar way to protect a carrier when freight is payable at destination.