Legal Dictionary of Pakistan

vendor's lien

1 Real estate. A seller's lien on land as security for the purchase price. ( This lien may be foreclosed in the same way as a mortgage: the buyer usu. has a redemption period within which to pay the full purchase price. - Also termed grantor's lien. 2. A lien held by a seller of goods, who retains possession of the goods until the buyer has paid in full.