What Is Lien?
A legal claim placed against a property as security for a debt or obligation, which must typically be satisfied before the property can be sold with clear title.
Lien across 6 exams
Lien appears on the following exams. Each defines it in the context candidates are tested on:
- Real Estate
- A legal claim placed against a property as security for a debt or obligation, which must typically be satisfied before the property can be sold with clear title.
- CA Salesperson
- A legal claim or encumbrance placed on a property as security for a debt or obligation, giving the creditor a right to the property if the debt is not paid. Common examples include mortgages and property tax liens.
- TX Broker
- A legal claim against a property that gives the lienholder the right to take possession or force sale if a debt is not paid. Common liens include mechanic's liens, tax liens, and judgment liens that can encumber a property's title.
- AZ Salesperson
- A legal claim against a property that gives a creditor the right to seize and sell it if a debt is not paid. Common liens include mortgage liens, tax liens, mechanic's liens, and judgment liens; they are recorded and affect title.
- IL Broker
- A legal claim against a property used as security for a debt or obligation, which can allow a creditor to force a sale if the debt is unpaid. Common examples include mortgage liens and mechanic's liens.
- Public Adjuster
- A legal claim on property or claim proceeds held by a creditor, contractor, mechanic, or government agency to secure payment of a debt or obligation. Public adjusters and insurers must identify and account for all liens before distributing claim proceeds.