Property OwnershipIntermediateAlabama Exam
A lien that is specific to a particular piece of real estate is called a:
ASimply a general lien attaching to all of a debtor's property broadly, the opposite of the property-specific lien actually being described
BSpecific lienCorrect
CJudgment lien
DBlanket lien
Why Specific lien Is Correct
Answer B: Specific lien
A specific lien attaches only to a particular piece of property (such as a mortgage, mechanic's lien, or property tax lien), as opposed to a general lien which attaches to all of the debtor's property.
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
State-Specific Concepts
Mechanic's Lien
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