unpaid vendor's lien

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An equitable right arising in favour of a vendor of land against the purchaser (and those taking title through him as volunteers) if the vendor has given possession of the land to the purchaser before receiving the whole of the purchase price. This form of lien gives the vendor no right to possession of the land but entitles him to seek a court order for the sale of the property to ensure that he is paid the money owing by the purchaser.

Subjects: Law.

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