Define Negative lien?

11 months ago
Banking

It is otherwise called non-possessory lien. In the case of a negative 
lien, the securities are not in the possession of the creditor, But, the debtor 
gives an undertaking that he will not create any change on those securities 
in question without the prior written permission of the creditor. 

0
Rusma Khadka
May 23, 2023
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