National Real Estate Practice Exam

Which of the following is NOT an example of a specific lien?

1. Property Taxes

2. Judgment

3. Mechanic's lien

4. Mortgage

The correct answer is: Judgment

A specific lien is a legal claim against a specific piece of property, securing the payment of a debt associated with that property. Examples of specific liens include property taxes, mechanic's liens, and mortgages, all of which attach to a particular property until the debt is satisfied. Property taxes are assessed by the government against a specific property, claiming a right to the property until those taxes are paid. A mechanic's lien is placed by a contractor or subcontractor for work done on a specific property, ensuring they receive payment for their services. A mortgage, too, is a specific lien as it explicitly secures a loan against the property itself. On the other hand, a judgment is not a specific lien because it typically applies to the debtor's assets in general rather than a particular property. When a court issues a judgment against someone, it creates a lien against all the debtor's property, making it a general lien rather than tying the claim to one specific asset. This distinction clarifies why the judgment is not categorized as a specific lien.