What does the term "broker's lien" refer to?

The term "broker's lien" specifically refers to a legal claim or right that a real estate broker has against a property due to unpaid commissions for services rendered in the sale or leasing of that property. When a broker provides services that result in a successful transaction but is not compensated, they may assert a broker's lien to secure payment. This lien can affect the property and may necessitate payment before the property can be sold or transferred.

In the context of real estate transactions, this mechanism is designed to protect the broker's commission rights, ensuring that they are compensated for their work, which often involves significant effort and resources. It is an important aspect of real estate law that underscores the broker's entitlement to payment based on their contractual agreement with the client. Other options do not align with the definition of a broker's lien and address different legal concepts related to property and financial claims.