mechanic's lien

Thesaurus

Noun

mechanic's lien - lien to secure payment for work and materials in erecting or repairing a building or other structurelien - the right to take another's property if an obligation is not dischargedgarageman's lien - the extension of a mechanic's lien to include payment for work on automobiles

mechanic's lien

mechanic’s lien

A lien on privately owned real property created by state statute in favor of persons supplying labor or materials for a building or structure or improvements thereof, generally for the value of the labor or materials supplied by them. In some states, a mechanic’s lien also exists for the value of professional services. Laws differ greatly among states as to the circumstances in which such a lien may arise, the sum for which it may be imposed, and the procedures whereby the sum due may be collected or the lien discharged. In most circumstances, clear title to the property cannot be obtained until the claim on which the lien is based has been settled.

Mechanic's Lien

A charge or claim upon the property of another individual as security for a debt that is created in order to obtain priority of payment of the price or value of work that is performed and materials that are provided in the erection or repair of a building or other structure.

Cross-references

Lien.

mechanic's lien

n. the right of a craftsman, laborer, supplier, architect or other person who has worked upon improvements or delivered materials to a particular parcel of real estate (either as an employee of the owner or as a sub-contractor to a general contractor) to place a lien on that real property for the value of the services and/or materials if not paid. Numerous other technical laws surround mechanic's liens, including requirements of prompt written notice to the owner of the property and the amount still owed (even before the general contractor has been tardy in making payment), limits on the amount collectable in some states, and various time limitations to enforce the lien. Ultimate, last resort enforcement of the mechanic's lien is accomplished by filing a lawsuit to foreclose the lien and have the property sold in order to be paid. Property owners should make sure that their general contractors pay their employees or sub-contractors to avoid a mechanic's lien, since the owner could be forced to pay the debts of a general contractor even though the owner has already paid the contractor. If the worker or supplier does not sue to enforce the mechanic's lien, he/she may still sue for the debt. (See: lien)

mechanic's lien

mechanic's lien

mechanic’s lien

Mechanic's Lien

Mechanic's Lien

Cross-references

mechanic's lien

mechanic's lien

Words related to mechanic's lien

noun lien to secure payment for work and materials in erecting or repairing a building or other structure

Related Words