Illinois Real Estate Practice Exam

Which type of lien is created to enforce the payment of money against a property?

1. Voluntary Lien

2. Involuntary Lien

3. Statutory Lien

4. Specific Lien

The correct answer is: Voluntary Lien

The correct answer is a specific lien, which is created to enforce the payment of a specific amount of money against a property. A specific lien attaches directly to a particular piece of property and can arise from various sources, such as a mortgage or a mechanic's lien when work is performed on the property. This means that the lien gives the lender or service provider a legal claim to the property in the event that the debt is not paid. In contrast, while a voluntary lien involves the property owner's consent—such as when a homeowner takes out a mortgage—this type of lien does not necessarily enforce payment on its own without the context of specific circumstances. An involuntary lien arises without the property owner's consent, often due to legal obligations like tax liens. A statutory lien is a subtype that is established by law, such as tax liens, and is often a specific type of involuntary lien. Therefore, while a voluntary lien can be associated with payment, it does not inherently enforce payment in the way that a specific lien directly ties a debt to a property.