liens on property

A lien on a property is a legal claim or right that a creditor has against the property until a debt is paid off. It acts as a security interest, meaning if the owner defaults on a loan or obligation, the creditor can potentially force the sale of the property to recover the owed money. Common types include mortgage liens, which secure home loans, and tax liens, related to unpaid taxes. Liens do not transfer ownership but can affect the property’s marketability and may need to be settled before selling or refinancing.