Voluntary Lien

Definition: A lien created with the property owner's consent, commonly through a mortgage securing a loan.

Example

A homeowner grants a lender a mortgage as security for borrowed funds.

Keep the distinction clear

Voluntary identifies how the lien arises. It does not mean payment is optional, nor does it determine whether the lien is first or junior in priority.

Related terms

Involuntary Lien · Specific Lien · Mortgage

Keep studying

DEEP C: The Bundle of Property Rights Explained

References: Cornell LII: lien

Pronunciation (US): VAH-lun-tair-ee LEEN (capitals show stress)

Pronunciation reference: Merriam-Webster