Which type of lien involves a legal claim against all properties owned by a debtor?

Get ready for the Washington State Managing Broker Exam. Study with multiple choice questions and detailed explanations. Prepare confidently with updated resources!

A general lien is a type of legal claim that extends to all properties owned by a debtor, rather than just a specific property. This creates a broad financial obligation that encompasses all assets of the debtor, and it often arises from situations such as tax liens or court judgments.

When a general lien is in place, it allows the creditor to potentially pursue any of the debtor's assets to satisfy the owed amount. For example, if a person has an outstanding debt that results in a general lien, the creditor can seek to recover funds from any and all properties the debtor owns, not limited to a particular piece of real estate.

In contrast, a specific lien is tied to a particular property, meaning the lien applies only to the asset mentioned in the lien. Judgment liens are a form of general lien that occurs after a court ruling, but not all general liens are judgment liens. Satisfaction liens, on the other hand, typically refer to the release of a lien once a debt has been settled and do not imply a claim against properties.

Understanding these distinctions is crucial since they can affect how creditors and debtors handle financial obligations and property ownership.

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