Mechanics lien

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Mechanics lien

A lien filed by a contractor or tradesman for unpaid work performed on a project, which becomes an encumbrance on the property until released by agreement, paid, or dismissed by action in the courts.
References in periodicals archive ?
Elizabeth Walters, Esq., has been specializing in the area of Construction Collection/ Mechanics Lien Law for almost 30 years.
Fairfax, VA, December 21, 2018 --(PR.com)-- Mathis Title Company, a Northern VA title company, released a blog educating readers on the importance of mechanics lien claims for contractors.
Mechanics lien claims are designed to ensure that workers receive the agreed-upon payment for their services.
While describing the mechanics lien process in detail during the four-hour March 19 workshop, Managing the Mechanic's Lien Process in all 50 States, Ring stressed the critical importance of ensuring all components are in place.
"If you are going to have mechanics lien rights ...
A party providing labor, services or materials with respect to a public construction project should be aware of some key differences between mechanics liens on private versus public projects.
The Illinois Mechanics Lien Act (the "Act") offers important protection to parties that provide services, labor or materials for construction projects by granting them a right to record a mechanics lien against real property as a means to secure their right to payment.
The purpose of this article is to provide a general overview of Illinois' mechanics lien law.
The mechanics lien claims of both contractors and subcontractors must be verified by the affidavit of the claimant and must contain:
Mechanics liens are generally available to those who provide labor, or furnish equipment or materials used in the construction, alteration, addition or repair of real estate.
In some states and circumstances, mechanics liens can even prime a prior consensual lien.
Most states do not allow the imposition of mechanics liens and instead have a system for a labor and material bond against which subcontractors and materialmen can claim within some statutory term of months.