Yes, in fact. I had this happen on the front brake of a CB750 not long after I bought it.
My theory is that some water gets into the system, and causes a bit of rust or corrosion in the caliper, causing it to drag. The heat rises until it creates steam, which expands in the caliper, forcing the piston harder and harder against the rotor until it won't turn.
If this isn't true, it ought to be.
The solution is complete replacement of the brake fluid -- clean everything with alcohol prior to reassembly and leave to dry overnight or blow dry with compressed air. And check your caliper for cleanliness.
Originally Posted by KC-10ENG
Anyone ever have a rear brake lock up on them?? ...I had to bleed the rear brake to get the bike rolled into the garage.