Dictionary of Banking Terms: vendor's lien
vendor's lien
seller's right to reclaim property sold to a buyer if the purchaser falls behind in payments, for example, a seller's lien on real estate sold through a purchase money mortgage. Seller's liens are a carryover from common law and are relatively uncommon in the United States.
Dictionary of Business Terms: vendor's lien
vendor's lien
collateral granted to the seller of property as security for a promissory note taken by the seller as part of the selling price.
