What is the difference between a specific lien and a general lien?

The distinction between a specific lien and a general lien lies in the scope and coverage of these liens. A specific lien attaches to a single property, meaning it is tied directly to a specific asset, such as a home or car. This type of lien is often created through specific legal actions, like a mortgage or a mechanic’s lien where the property can be sold to satisfy the debt associated with that particular asset.

In contrast, a general lien affects all of a debtor's property. It does not limit itself to a single asset but rather encompasses all personal and real property owned by the debtor. Common examples include tax liens and judgment liens, which come into play when someone has a financial obligation that affects their overall estate rather than just one specific item.

Understanding these definitions is essential for recognizing how liens operate within real estate and financial dealings, especially in the context of obligations owed and the property affected by those obligations. This concept is crucial for future real estate professionals, as they will frequently encounter situations involving both types of liens.