In the context of property, what does a lien refer to?

A lien is a legal claim against real or personal property, which serves as security for the payment of a debt or obligation. When a lien is placed on a property, it gives the lienholder a right to the property, ensuring that if the borrower defaults on their obligation, the lienholder can seek to satisfy the debt through the property. This means the property cannot be sold or transferred without addressing the lien, as it can affect ownership and the ability to encumber the property.

Understanding this, it is clear that the other options do not define a lien accurately. An interest in property ownership refers more broadly to ownership rights rather than a specific claim for debt. A form of property tax relates to government taxation and is not a claim for debt. Lastly, a lease agreement is a contract that allows a tenant to use property owned by someone else for a specified period, which is unrelated to the concept of a lien.