Illinois Real Estate Broker Post-License Practice Exam 2026 – The All-in-One Guide to Securing Your License Success!

The term "property lien" refers to a claim against a property to secure the payment of a debt. This legal claim allows the lender or creditor to obtain a certain legal right to the property, which remains in place until the debt is satisfied. In the case of real estate, a lien may be placed on the property through various means, such as a mortgage, tax lien, or mechanic's lien when work is performed but not paid for.

When a property is under a lien, it generally cannot be sold, refinanced, or transferred without addressing the lien. This is crucial for potential buyers and owners to understand because it directly impacts the marketability of the property and the rights of all parties involved. Thus, option A accurately defines what a property lien implies in real estate transactions.

Other options do not accurately represent what a lien is; for example, having a legal right to occupy a property relates more to rights of possession rather than a debt's securing claim. Likewise, a buyer's option to purchase or a seller's marketing tool are not relevant to the concept of a lien.