What is a primary characteristic of a voluntary lien?

A primary characteristic of a voluntary lien is that it is created with the consent of the property owner, often as a result of taking out a loan or mortgage. This type of lien arises when the owner agrees to encumber their property as security for a debt, which typically must be satisfied through debt payment. Generally, if the debt is paid off, the lien is released.

While temporary liens can certainly exist, such as when specific loans are repaid, it is not accurate to define a voluntary lien by its temporary nature, as some voluntary liens can be long-lasting until the associated debt is settled. Additionally, voluntary liens are not restricted to commercial properties; they are also common in residential settings, making the idea that they are limited to commercial properties incorrect. Overall, the defining factor of a voluntary lien is the consent involved in its establishment, primarily through the act of borrowing money against the property.