What type of lien is specifically secured by one certain property?

A specific lien is a type of lien that is directly tied to a specific piece of property. This means that the lien is associated with a particular asset, giving the lienholder rights to that property in the event of non-payment or default. Specific liens are often placed on properties for various reasons, such as securing payment for a loan, taxes, or services rendered related to that property.

For example, if a contractor has done work on a home and has not been paid, they may file a mechanic's lien against that home. This action secures their right to the specific property until they receive compensation for their services. The key characteristic of a specific lien is that it relates only to that specific property, unlike a general lien, which can be applied to multiple properties owned by an individual or entity.

Understanding the nature of specific liens is crucial in the context of title insurance, as they can affect ownership and the ability to transfer property. It is essential for parties involved in real estate transactions to be aware of any specific liens that might impact the title of the property at hand.