mechanic's lien


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Noun1.mechanic's lien - lien to secure payment for work and materials in erecting or repairing a building or other structuremechanic's lien - lien to secure payment for work and materials in erecting or repairing a building or other structure
lien - the right to take another's property if an obligation is not discharged
garageman's lien - the extension of a mechanic's lien to include payment for work on automobiles
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Mechanic's lien laws allow you to extend your credit lines based on the value of the real estate property your product or services will improve.
Gordon Company just slapped on an $850,000 mechanic's lien.
It's a huge deal because the idea behind all of this was that liens were outside the scope of bankruptcy law" said Greg Powelson, director of NACM's Mechanic's Lien and Bond Services (MLBS).
The JMH court relied on the fact that the creditor could have obtained a perfected fully secured mechanic's lien on the debtor's real property when the creditor had received the alleged preference payment.
In these situations, subcontractors and suppliers may need to pursue different sources for payment, such as mechanic's lien and payment bond claims.
A Virginia case featured in May's Business Credit magazine in which a judge shockingly allowed removable items to be included in a mechanic's lien has been reversed and remanded after being considered by another district court judge.
Fourth Circuit Court of Appeals has held that a bankruptcy preference occurred when a creditor with both mechanic's lien and bond rights received a payment ("Transfer") during the preference period.
Although the language of mechanic's lien statutes varies from state to state, it has almost universally been held that only materials directly annexed/ attached to the physical structure qualify as items eligible to be included in a mechanic's lien filing.
Mechanic's lien statutes typically provide that the lien must be filed within a certain number of days or months after the subcontractor or supplier last furnishes or performs work on the project.
For private projects, claimants can file a mechanic's lien and a stop payment notice concurrently.
com)-- This breakout session will teach one about the Mechanic's Lien & Bond Claim Process and how it can secure your right to get paid when extending credit on construction projects.
Generally, lenders across the country have been wary to accept deeds in lieu where junior liens existed on the title, such as a mechanic's lien or a second mortgage.