What type of lien is defined as a seller's lien on land for the purchase price?

A vendor's lien is specifically defined as a seller's lien on land to secure the purchase price of that land. This type of lien typically arises when a seller provides financing to the buyer, allowing the seller to retain a security interest in the property until the buyer has fulfilled the payment obligations. In essence, it protects the seller's interest by giving them a legal claim to the property in case the buyer defaults on the payment.

Understanding the context of vendor liens is important, as they play a crucial role in real estate transactions where sellers extend credit to buyers. This can also influence how properties are transferred and the security measures in place for sellers in similar situations.

The other types of liens listed, such as mechanic's lien, mortgage lien, and tax lien, serve different purposes in real estate and financial contexts. For instance, a mechanic's lien is typically associated with unpaid work or services performed on the property, a mortgage lien relates to securing a loan, and a tax lien arises from unpaid property taxes. Each of these serves to protect the interests of their respective creditors but does not specifically pertain to the seller's right to secure the purchase price of the property as a vendor's lien does.