Already answered by Pyth, but just to clarify: Timelocks aren’t really used to lock coins, but to add different conditions in Script that become valid only in the future. Typically:
- collaborative spend with no timelock
- unilateral spend with timelock for multiparty constructions
or, in the case of Liana:
- regular spend condition without timelock (let’s say a 2-of-2 multisig)
- backup spend condition with a timelock (let’s say a 2-of-3 with a 3rd party key, or even a single sig key agent)