liens in real property

A lien in real property is a legal claim against a property to secure payment of a debt or obligation. It gives the creditor the right to take possession of the property if the debt isn’t paid. Liens can arise from mortgages, unpaid taxes, or contractor work. When a property is sold, liens must be settled, often deducted from the sale price. There are different types of liens, such as specific (tied to a particular property) and general (applicable to all personal assets). Understanding liens is essential for property owners and buyers to protect their financial interests.