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mechanic's lien |
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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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