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.
References in periodicals archive ?
The mechanic's lien holder disputed the foreclosure, arguing that the property could not be foreclosed upon after the original borrower met its debt obligations by giving the lender the deed in lieu.
Contractors and suppliers cannot obtain mechanic's liens on public projects but can assert bond claims on projects in excess of $25,000.
On July 1, 2008, plaintiff filed a verified complaint for foreclosure of its mechanic's lien and alleged a breach of contract.
The court must determine whether the requirements of the statute have been met and, if so, the priority of the mechanic's lien being foreclosed relative to the other liens or encumbrances on the title.
Miller Const Co, Inc v McGinnis, (15) the first district barred a contractor (who failed to provide a written contract and a consumer pamphlet) from recovering under its mechanic's lien.
Everything you need to know in 60 minutes about the complex relationship between state mechanic's lien law and federal bankruptcy law and how you should be advising your clients who are enforcing mechanic's liens on the property of debtors that have filed for bankruptcy
Because the oath in the December 18, 2007, statement was not administered in accordance with the statute, the appellate court ruled that the statement was noncompliant with section 5 and accordingly, that the trial court did not err in dismissing plaintiff's request to foreclose on the mechanic's lien.
NY County 1933), a mechanic's lien had been discharged by filing a bond.
The law, which became effective July 1, 2013, strengthens the efficacy of NMVTIS by promoting the use of NMVTIS Prospective Purchaser Inquiries (PPIs) as part of the tow lien and mechanic's lien process and codifying in Florida statute reporting requirements for the salvage and towing industry.
According to Abbott, Casa Linda Homes sold residential properties encumbered by different liens, including liens for delinquent property taxes; liens of a third-party lender; or mechanic's lien for labor or materials used to improve the property.
The work has been done and the contractor can threaten to file a mechanic's lien against the building, which the building owner will not be happy about.