What is the legal term for a property right claimed to cover the creditor until debt payment?

The legal term that denotes a property right claimed to ensure the creditor is secured until the debt obligation is fulfilled is a lien. A lien serves as a legal right or interest that a lender has in the borrower's property, granted until the debt obligation is satisfied. This arrangement allows the creditor to potentially recover their money through the sale of the property if the debtor fails to make the required payments.

Liens can be seen in various forms, such as mortgage liens, which are security interests in real property granted to lenders. The existence of a lien conveys a clear legal assurance to creditors, reinforcing their position in the event of non-payment.

In contrast, possession rights, collateral claims, and claims of right do not convey the same legal assurance or security over a property as a lien does. While possession rights pertain to physical control over property and collateral claims indicate an interest in property used to secure a loan, neither specifically encapsulates the idea of a creditor's legal right to the property until debts are paid, thereby underscoring why lien is the precise term needed in this context. A claim of right generally refers to the assertion of a right to a property but lacks the legal enforceability and creditor protection that a lien conveys.