What type of lien is a mortgage classified as?

A mortgage is classified as a voluntary lien because it arises from a consensual agreement between the borrower and the lender. When an individual takes out a mortgage to purchase property, they willingly enter into a contract that grants the lender a lien on the property as security for the loan. This agreement indicates that the borrower has chosen to encumber their property with debt in exchange for financing.

In contrast, liens that are classified as involuntary are imposed by law or through court judgments without the property owner's consent, such as tax liens. General liens attach to all of a debtor's property rather than a specific piece of property, typically seen in cases of court judgments that impact multiple assets. Equitable liens may arise through equitable remedies, primarily when fairness dictates that a lien should exist, which is different from the formal agreement characteristic of a mortgage.

Therefore, the classification of a mortgage as a voluntary lien reflects the mutual consent inherent in the borrowing process, distinguishing it from other lien types that do not involve the same voluntary agreement.