What term refers to a charge or claim that is binding on real estate?

The term that refers to a charge or claim that is binding on real estate is "encumbrance." An encumbrance signifies any claim, lien, or liability attached to a property that may affect its use or transferability. This can include various types of claims, such as easements or liens from unpaid taxes, which could restrict or burden the property in some way.

Understanding encumbrances is crucial because they can impact the value and marketability of real estate. Property owners must be aware of any existing encumbrances that could affect their ownership rights or obligations. This concept underscores the importance of conducting thorough title searches and obtaining clear title insurance to ensure that buyers or lenders are protected from unforeseen claims against the property.

The other terms mentioned—liability, assignment, and mortgage—relate to different aspects of real property or financial obligations and do not specifically connote a claim or charge that binds the real estate itself. While a mortgage can be considered a type of encumbrance, the term "encumbrance" is broader and encompasses a variety of claims beyond just mortgages. Thus, "encumbrance" is the most appropriate term for this context.