What right allows a creditor to have all a debtor's property sold to satisfy a debt?

Study for the 75 Hour Broker Pre Licensing Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The correct answer is the general lien. A general lien is a legal right that allows a creditor to claim and potentially sell a debtor's property in order to satisfy an outstanding debt. This type of lien attaches to a debtor's entire property rather than just a specific item, giving the creditor the ability to pursue the sale of various assets owned by the debtor if the debtor is unable to pay the debt owed.

This mechanism is significant in securing debts, as it provides creditors with a means to recover what is owed to them by leveraging the assets of the debtor. Once a general lien is placed, the creditor often has the authority to initiate proceedings to sell the debtor's assets to satisfy the obligation.

In contrast, the other options do not confer this right. A general partnership relates to the liability of partners in a business, while a general warranty deed pertains to real estate and guarantees that the title is free and clear of any claims. The term "gap" does not represent a recognized legal right related to debts or liens. Thus, a general lien is uniquely designed for situations involving the sale of a debtor's property to settle debts.

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