Which type of encumbrance is specifically related to financial claims?

Liens and mortgages are encumbrances that specifically relate to financial claims against a property. A lien is a legal claim that a creditor has on a property until a debt owed by the property owner is satisfied. This means that if the property owner fails to repay their debt, the creditor has the right to take possession of the property to settle the obligation. Mortgages similarly function as a secured loan, where the property itself serves as collateral for the loan. If the borrower defaults on the mortgage, the lender can foreclose on the property.

In contrast, property taxes represent a financial obligation to the government but do not classify as financial encumbrances in the same way that liens and mortgages do. They are more akin to a form of governmental claim for a public service rather than a direct financial claim from a creditor. Environmental restrictions and access easements are related to property use or rights, focusing on regulatory and usage aspects, rather than financial claims. Therefore, liens and mortgages are clearly tied to financial interests and claims on the property.