diff --git a/cacholote/utils.py b/cacholote/utils.py
index 615782a..2a6d420 100644
--- a/cacholote/utils.py
+++ b/cacholote/utils.py
@@ -84,13 +84,21 @@ def lockfile(self) -> str:
     def acquire(self) -> None:
         self.fs.touch(self.lockfile)
 
+    @property
+    def exists(self) -> bool:
+        return bool(self.fs.exists(self.urlpath))
+
+    @property
+    def lock_exists(self) -> bool:
+        return bool(self.fs.exists(self.lockfile))
+
     def release(self) -> None:
         if self.fs.exists(self.lockfile):
             self.fs.rm(self.lockfile)
 
     @property
     def is_locked(self) -> bool:
-        return bool(self.fs.exists(self.lockfile))
+        return self.lock_exists and self.exists
 
     def wait_until_released(self) -> None:
         warned = False
@@ -107,7 +115,7 @@ def wait_until_released(self) -> None:
     def __enter__(self) -> bool:
         self.wait_until_released()
         self.acquire()
-        return bool(self.fs.exists(self.urlpath))
+        return self.exists
 
     def __exit__(
         self,
diff --git a/tests/test_50_io_encoder.py b/tests/test_50_io_encoder.py
index 3d14981..1ebf2cd 100644
--- a/tests/test_50_io_encoder.py
+++ b/tests/test_50_io_encoder.py
@@ -170,6 +170,7 @@ def test_io_locker(
     # Acquire lock
     fs, dirname = utils.get_cache_files_fs_dirname()
     file_path = f"{dirname}/{fsspec.filesystem('file').checksum(tmpfile):x}.txt"
+    fs.touch(file_path)
     fs.touch(f"{file_path}.lock")
 
     process = subprocess.Popen(f"sleep 0.1; rm {file_path}.lock", shell=True)