what is a special lien in real estate

Best answer

Special lien isa charge upon a particular piece of property,by which it is held for the payment or discharge of a particular debt or duty. If a lien extends to everything,acquired and to be acquired,it is not special merely because it was created by a mortgage or other express contract.

People also ask

  • What do you need to know about liens in real estate?

  • As a property owner, you need to know about the various types of real estate liens that could cloud the title to your property. A lien is a claim against property made by someone in order to secure payment of a debt. The lien essentially makes the property collateral against monies or services owed to the other person or entity.

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

  • In contrast, a specific lien is one that attaches to a specific asset. For example, a mortgage bank has a lien on the piece of real estate they financed the purchase of.

  • What are the different types of liens?

  • Liens can be filed on two different types of property: real property and personal property. Real property includes land and any assets that are permanently attached, like a house. Personal property refers to moveable assets, which can include just about anything under the sun: cars, animals, boats, equipment, etc.

  • What is a special lien in Georgia?

  • [Green v. Coast L. R. Co., 97 Ga. 15, 30 (Ga. 1895)] Special lien is a possessory lien by which the possessor of goods has the right to retain specific goods until a debt incurrent in connection with the goods has been paid.

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