What is the term for a creditor's claim against an asset pledged as security?

The term for a creditor's claim against an asset pledged as security is a lien. A lien gives the creditor the legal right to keep possession of the property until a debt owed by the property owner is discharged. It serves as a form of security interest that enables the creditor to collect payment by enforcing the claim against the asset in the event of default.

In the context of secured transactions, a lien ensures that if the borrower fails to meet their financial obligations, the creditor may be able to pursue the asset to recover the owed amounts. This legal right is crucial in financing transactions, as it protects the lender's interests.