A lien is an interest in property, similar to a security interest, which enables a creditor to retain (usually) or seize (occasionally) property belonging to a debtor. The rules governing liens in Alberta (at the time of publication) were widely varied, and controlled by a number of different statutes. This report suggests the creation of a unified Liens Act which would resolve problems such as the registration of liens, the priority of different interests on property (held by creditors), and the powers that a creditor had over property held by lien.
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Report on Liens, Report for Discussion 13
|TAGS:||lien, non-consensual, retention, priority, perfection, claimant, secured, discharge, seizure, enforcement, attachment, buyer, claim, creditor, debt, debtor, goods, personal, Possession, Property, registration, termination|