Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

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What is a lien?

A financial claim against property
A legal document for ownership
A type of insurance
An agreement between tenant and landlord

The correct answer is: A financial claim against property

A lien is a financial claim held by a creditor against property owned by a debtor. This means that the creditor has a legal right to the property until the debt is paid off. B is incorrect because a lien is not a legal document for ownership, it is a legal claim for repayment. C and D are also incorrect because they are not related to the concept of a lien.