Which of the following best describes a specific lien?

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!

A specific lien is characterized by its attachment to a particular piece of property rather than to multiple properties or the overall jurisdiction. This means that a specific lien gives a creditor a legal claim to a designated property in order to secure repayment of a debt associated with that property. Since it is tied to the specific asset, the rights of the lienholder are limited to that property alone, making it distinct from other types of liens.

Understanding this definition helps clarify why the other choices do not fit the definition of a specific lien. A lien that applies to all properties in a jurisdiction is more accurately described as a general lien, which encompasses multiple assets. A lien that is only temporary speaks to the duration of the lien rather than to the specificity of the property it attaches to. Lastly, the ability to transfer a lien to other properties relates to the nature of the lien itself, which would categorize it as a different type, like a general lien or a mortgage, and not a specific lien tied solely to one property.

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