Vendor's Liens

A vendor's lien is a legal right that a seller retains on a property to secure payment for goods or services provided, even if the buyer has taken possession. If the buyer doesn’t pay, the seller can claim the property to recover the debt. This type of lien is often associated with real estate transactions, where the property acts as collateral. Essentially, it ensures that the seller has a way to enforce payment obligations and protects their interests if the buyer fails to fulfill their financial commitments.