Humber/Ontario Real Estate Course 2 Exam Practice

If a lien is placed on a property, it serves as:

1. A financial charge against the property.

2. A restriction on property use.

3. An easement for utility access.

4. A variance for zoning regulations.

The correct answer is: A financial charge against the property.

When a lien is placed on a property, it serves as a financial charge against the property. This means that the property is used as security for a debt or obligation. The correct answer, "A. A financial charge against the property," is the most fitting option as it directly relates to the purpose and effect of a lien. Options B, C, and D are not correct in this context. Option B, a restriction on property use, refers to limitations or regulations on how a property can be used and does not specifically pertain to a lien. Option C, an easement for utility access, refers to a right to use another person's land for a specific purpose unrelated to a lien. Option D, a variance for zoning regulations, involves an exception or permission granted by local zoning authorities regarding land use regulations and is not directly related to a lien on a property.