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 ?
NACM's Mechanic's Lien and Bond Services has determined that there are 10 easy strategies to incorporate into your mechanic's lien process that can speed up your money and reduce write offs.
My argument was, if I could have filed a mechanic's lien after the bankruptcy petition, then receiving the same payment prior to the bankruptcy cannot be a preference because, if I would have filed a mechanic's lien, I would have received payment.
NER argued that it had a fully secured mechanic's lien on JMH's real property arising from NER's repair and installation of the emergency generator radiator at the hospital.
Subcontractors and suppliers named on the list but not paid can pursue mechanic's lien and payment bond claims.
Krumm noted that existing Virginia statutes did not include "an exhaustive or exclusive list" of materials qualifying for a mechanic's lien and that some unattached materials were critical in creating improvements to a building without being permanently annexed.
The existence of mechanic's lien or bond rights played no role in this analysis.
Powelson noted such a decision "could open the flood gates" to many more mechanic's lien filings over time.
Tarte held that although the roofing project had been substantially completed more than a month earlier, the deadline to file mechanic's lien began to run upon removal of scaffolding and roofing brackets from the property at the request of the owner.
Of significance, the deed in lieu of foreclosure did not extinguish, or eliminate, the mechanic's lien.
Defendants paid plaintiff the sum of $1,234,544 leaving an outstanding balance of $104,498, which formed the basis of plaintiff's mechanic's lien.
Mechanic's lien attachments, which can be obtained without notice to the owner, are granted as a matter of right if one establishes the elements of a mechanic's lien.
A mechanic's lien is a form of security for contractors in the event they are not paid, Owen said.