What is the definition of a specific lien?

A specific lien is defined as a lien that applies to a particular property. This type of lien is tied directly to a specific asset, meaning it grants the lienholder the right to pursue that particular property in the event of a default or failure to meet obligations, such as payments.

For example, if a homeowner secures a mortgage on a house, the lender holds a specific lien on that property, which means that if payments are not made, the lender can take legal action to obtain the property specifically rather than pursuing other assets owned by the borrower. This specificity is crucial as it provides clarity about which property is being encumbered and the legal rights associated with it.

In contrast, a lien affecting all properties owned would not designate a specific property and would therefore be considered a general lien. A general claim against the owner does not tie the claim to any particular property either, while a lien that is valid for a fixed time implies a temporary nature of the obligation rather than a focus on a specific property. Thus, the emphasis on a particular property makes the definition of a specific lien distinct and accurate.