REAL ESTATE / CONSTRUCTION LAW - MECHANIC'S LIEN - A mechanic's lien is a legal claim against a property, used by contractors, subcontractors, and material suppliers to secure payment for work or materials used to improve or repair a property.
The primary purpose is to ensure that contractors, subcontractors, and suppliers get paid for their work or materials when the property owner fails to pay the general contractor or if the general contractor fails to pay them.
If a contractor or supplier isn't paid, they can file a mechanic's lien against the property, which essentially creates a cloud on the title, meaning it can make it difficult to sell, refinance, or transfer the property until the lien is resolved.
Contractors, subcontractors, laborers, and material suppliers are typically eligible to file a mechanic's lien.
If the lien isn't paid, the lienholder can take legal action to foreclose on the property, potentially leading to a sale to satisfy the debt.
Mechanic's lien laws vary by state, so it's important to understand the specific rules and procedures in the state where the property is located.
Does not include any State or Federal Court Fees or any Third-Party Costs such as County Recorder or E-Filing Fees.
REAL ESTATE - MECHANIC'S LIEN / CONTRACTOR'S LIEN (Nationwide)
REAL ESTATE / CONSTRUCTION LAW - MECHANIC'S LIEN - A mechanic's lien is a legal claim against a property, used by contractors, subcontractors, and material suppliers to secure payment for work or materials used to improve or repair a property.
The primary purpose is to ensure that contractors, subcontractors, and suppliers get paid for their work or materials when the property owner fails to pay the general contractor or if the general contractor fails to pay them.
If a contractor or supplier isn't paid, they can file a mechanic's lien against the property, which essentially creates a cloud on the title, meaning it can make it difficult to sell, refinance, or transfer the property until the lien is resolved.
Contractors, subcontractors, laborers, and material suppliers are typically eligible to file a mechanic's lien.
If the lien isn't paid, the lienholder can take legal action to foreclose on the property, potentially leading to a sale to satisfy the debt.