Word Watch · Term 09 of 30 · 0:49

Lien

ProductionIllustrated Click2CE lesson; AI-assisted production with Sarah narration

In brief

A lien is a claim against property securing payment or performance of an obligation; the claim is not itself ownership.

Example

A mortgage lien connects an obligation to property, with enforcement and priority governed by the applicable rules.

TranscriptRead along, or select a timestamp to jump there
  1. Picture a debt connected to a property.
  2. A lien is a charge or claim against property that
  3. secures payment or performance of an obligation.
  4. Follow the connection:
  5. an obligation, a claim against the property, and possible enforcement
  6. if the obligation is not met.
  7. The lien is not the same thing as ownership or
  8. possession.
  9. A specific lien attaches to identified property.
  10. A general lien may reach a debtor's property within its
  11. lawful scope.
  12. Priority depends on the kind of lien and the governing
  13. rules, not a single rule for every situation.
  14. Quick check:
  15. is a lien itself the same as owning the property?
  16. No.
  17. It is a claim securing an obligation, with rights determined
  18. by the governing law.

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