A consensual lien is when the debtor consents to the lien, as in a loan or an advancement of a line of credit. This differs from statutory liens or judgments because under those types of liens the debtor did not consent to the lien, but the creditor has a legal right to recover the debt.
There are two main types of consensual liens. The first is known as a purchase-money security interest lien. Under this type of lien, a creditor lends money to the debtor for the specific purchase of buying the property which will secure the debt. An example of a purchase-money security interest lien is a mortgage on a home.
The second main type of consensual lien is the non-purchase-money security interest lien. Under this type of lien the debtor puts up property that he or she already owns to secure the debt. The debtor can then use the loan to pay for whatever he or she needs. An example of a non-purchase-money security interest lien would be a second mortgage on a home owned by the debtor.