What is the difference between a general lien and a specific lien?

The correct answer highlights the fundamental distinctions between general and specific liens in the context of property law. A general lien is indeed a type of lien that applies to all of a debtor's property, allowing a creditor to claim a right to satisfy a debt from any of the debtor’s assets. This means that if a debtor defaults, the creditor can go after any of the debtor’s properties to recover the amount owed.

In contrast, a specific lien is much narrower in scope and is only attached to a particular piece of property or a specific asset. For example, a mortgage is a common form of a specific lien that is secured by a particular property, such as a house, and does not affect the debtor’s other assets.

The other options do not accurately represent the definitions of general and specific liens, leading to incorrect conclusions. A general lien does not attach to only one piece of property; it encompasses all properties owned by the debtor. Similarly, a specific lien is not limited to personal property only—it can apply to real property as well. Understanding these distinctions is crucial in navigating the realm of liens and creditor rights in Colorado law.