Lien refers to a mortgage bond for which one who possesses other's objects or marketable securities can keep the possessions in custody in order to assure delivery of resulting bond as a product from them. This lien is accrued depending on associations between object and bond, and is made public by possessing the object. Here, lien is realized in effect unless the possession is illegal. However, the concern is that this realization of lien is interpreted by extension, and there might be relative damages caused to interested parties in procedural enforcement of real estate auction due to uncertainty about realization of lien.
As discussed above, in view of current operative law, it is very challenging to analyze the existence and possible value of lien on real estate sold throughout procedural enforcement of real estate auction, because lien holder is exempt from any obligation to declare his lien. Even if he declared his rights for the lien to competent court over lien holders, it is a matter of fact in practice that there are many cases of unidentified legality across the considerable number of liens declared. If a lien holder who does neither declare his rights nor appear on field report prepared by official lien executor claims for certain lien during or after selling of real estate against auction entrants(e.g. bidders), creditor who applies for auction, preference creditor and more, there may be resulting questions such as legal disputes for the existence of lien, delayed progress of procedural auction, and even falsified buyers of real estate for auction. Besides, the unexpected advent of lien holder may cause the mortgage bond to fail to meet its original purport of assuring bond liquidation.