What is the relationship between property and financial claims?

What is the relationship between property and financial claims?
Property is something that is owned or that you have legal ownership of whereas a financial claim is an agreement between two parties that specifies the terms of the obligation or agreement.

The relationship would likely be in terms of loans, property liens and credit. For example, purchasing a home or a car or even something as simple as a watch or article of clothing.

Generally, a mortgage is required when purchasing a home. The mortgage company holds a financial claim on the home which entitles them to receive payments according to the terms and conditions agreed upon within the contract. You are the owner of the property, so long as you meet your financial obligation to the mortgage company or fulfill the terms of the contract agreement.

The same relationship for the car and a lender that issues car loans. You get a loan and get possession of your vehicle. However, the lender has financial claims of the vehicle until you fulfill the terms of the contract. Then the car is yours free and clear of and financial claims held by the bank.

Purchasing a watch or article of clothing is often purchased using a credit card. Regardless of the type, it permits you the ability to purchase items that in turn become your property. The credit card company that granted you the credit to purchase the items now has financial claims and you will be required to make payments that satisfy the terms and agreements that you and the credit card company agreed to.

This is my idea of the relationship. But, I am not a business student or business professional. so take it for what its worth. Just consider it my opinion or the answer to the question that I would provide.