What is a legal claim on someone's property as security for a debt?

A legal claim on someone's property as security for a debt is referred to as a lien. This is a legal right granted by the property owner to a creditor, allowing the creditor to take possession of the property if the debt is not repaid. Liens are commonly used in real estate transactions to secure loans, ensuring that the lender has a claim against the property until the debt is satisfied.

For example, in a mortgage arrangement, the lender places a lien on the property to secure the loan amount. If the borrower defaults on the loan, the lender has the right to initiate foreclosure proceedings to recover the owed amount through the sale of the property.

In contrast, a lease involves the rental of property and does not create a claim on the property for debt purposes. A note is a written agreement that outlines the terms of a loan, but it doesn't serve as a security interest in the property itself. Title refers to the legal ownership of the property, which is different from the claim a lien represents.