MECHANIC'S LIEN
\mɪkˈanɪkz lˈiːən], \mɪkˈanɪkz lˈiːən], \m_ɪ_k_ˈa_n_ɪ_k_z l_ˈiː__ə_n]\
Definitions of MECHANIC'S LIEN
- 2006 - WordNet 3.0
- 2011 - English Dictionary Database
- 2010 - Legal Glossary Database
- 1910 - Black's Law Dictionary (2nd edition)
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lien to secure payment for work and materials in erecting or repairing a building or other structure
By Princeton University
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lien to secure payment for work and materials in erecting or repairing a building or other structure
By DataStellar Co., Ltd
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A legal claim placed on real estate by someone who is owed money for labor, services or supplies contributed to the property for the purpose of improving it. Typical lien claimants are general contractors, subcontractors and suppliers of building materials. A mechanics' lien claimant can sue to have the real estate sold at auction and recover the debt from the proceeds. Because property with a lien on it cannot be easily sold until the lien is satisfied (paid off), owners have a great incentive to pay their bills.
By Oddity Software
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A species of lien created by statute in most of the states, which exists in favor of persons who have performed work or furnished material in and for the erection of a building. Their lien attaches to the land as well as the building, and is intended to secure for them a priority of payment. The lien of a mechanic is created by law, and is intended to be a security for the price and value of work performed and materials furnished, and as such it attaches to and exists on the land and the building erected thereon, from the commencement of the time that the labor is being performed and the materials furnished; aud the mechanic has an actual and positive interest in the building anterior to the time of its recognition by the court, or the reducing of the amount due to a judgment. First Nat. Bank v. Campbell, 24 Tex. Civ. App. 100, 58 S. W. 030; Carter v. Humboldt F. Ins. Co.. 12 Iowa, 292; Barrows v. Baughmau, 9 Mich. 217.
By Henry Campbell Black