Mechanic's Lien ?

1 Answer

Answer :

What is a Mechanic's Lien?A Mechanic's Lien is the right of a craftsman, laborer, supplier, architect or other person who has worked upon improvements on a particular parcel of real estate to place a lien on that real property for the value of the services and/or materials if not paid. The lien is used to enforce payment in order to clear the title to the property, because property with a lien on it cannot be easily sold until the lien is satisfied/paid off.Placing a Mechanic's lien In some states, a claim must be filed in the county clerk's office or a suit brought within a certain period of limited time. On the sale of the building these liens are to be paid pro rata (a share to be received or an amount to be paid based on the fractional share of ownership). In some states no lien is created unless the work done or the goods furnished amount to a certain specified sum, while in other states there is no limit to the amount.A number of technical laws surround mechanic's liens, including requirements of prompt written notice to the owner of the property and the amount still owed (even prior to the general contractor being late in making payment), in some states there are limits on the amount collectable, and various time limitations to enforce the lien. The enforcement of the mechanic's lien is accomplished by filing a lawsuit to foreclose the lien and have the property sold in order to be paid.Property owners should make sure that their general contractors pay their employees or sub-contractors to avoid a mechanic's lien, since the owner could be forced to pay the debts of a general contractor even though the owner has already paid the contractor. If the worker or supplier does not sue to enforce the mechanic's lien, he/she may still sue for the debt.How To Get a Mechanic's Lien ReleasedIf a mechanic's lien has been filed against you, you have a few options:Satisfy the Lien: Paying the lien amount can release a mechanic's lien. However, if paying the lien amount is not equitable for you, negotiate a more reasonable payment. As part of the settlement, have the contractor sign a mechanic's lien waiver and release that removes the lien from your property.Lien Release Bond: You can challenge the amount or existence of the lien with a lien release bond. A lien release bond shortens the lien claimant's enforcement period and can release your property from the mechanic's lien or terminate a foreclosure action.Court Ordered Release: If the lien claimant fails to meet the statutory requirements, the mechanic's lien is void. If the lien claimant fails to execute a release of the mechanic's lien, petition the court to release the lien. You must be proactive to ensure the mechanic's lien is released. If not, the lien will remain and can cloud your title.Always Consult An Attorney Regarding Legal IssueA lawyer can also help you draft a contract that anticipates and protects against challenges, prior to a lien being placed on the property. However, if someone has already attached a mechanic's lien to your property, an attorney can assist you through the procedures to ensure your property will not be sold, to develop defenses if you are taken to court, and to file a release if the mechanic's lien remains in your title chain.Disclaimer: This article is a guideline and is not legal advice - No information here is warranted or guaranteed fro any purpose; as laws vary from state to state, it is not intended to be an all inclusive discussion of the law applicable to any action in your state. Please consult with a legal professional when appropriate - if you are charged with a crime, contact a criminal defense attorney.

Related questions

Description : How to File a Mechanics Lien?

Last Answer : Mechanics liens are a legal process used to assist contractors, mechanics and those in construction to obtain payment for services rendered. A mechanics lien could cover the home or building and the land ... upon.· Notify the owner of the property by certified mail. Include the details of the se

Description : Do you know what a judgement lien on your record means for non payment of child support?

Last Answer : https://www.investopedia.com/terms/j/judgment-lien.asp DEFINITION of Judgment Lien' A judgment lien is a court ruling that gives a creditor the right to take possession of a debtor's real property if ... Garnishment of money owed on his Property.( he can't sell his property until the lien is paid)

Description : Can a contractor put a lien on my house?

Last Answer : Yes, the work has not been completed to your satisfaction. Threaten to get an attorney, That will probably goose him to finish up. I think that he is just saber rattling. (Keep checking wit the bank on when the check clears.) Then I still would not pay the full amount until he replaces the fascia.

Description : My property is upside down, and co-signer owes child support. Will they place a lien against him?

Last Answer : How is your property upside down? What do you mean?

Description : What is a lien ?

Last Answer : Predecessor or lien refers to the right of the creditor to retain the mortgaged property in his possession until the debt is recovered.

Description : What does Lien mean ?

Last Answer : Lien means copyright.

Description : What does this listing mean?

Last Answer : That the property functions (is maintained) as a pledge for certain liabilities (typically if it is bought on a mortgage) - ie the owner must not dispose of it freely (without the knowledge and consent of the person who placed the lien).

Description : How do I file a lien against a property for monies owed?

Last Answer : Well, normally, you can't do it. The fact that somebody owes you money does not generally gives you the lien right. Check your state laws.

Description : where do i find out if my home has a lien

Last Answer : Check at your local Register of Deeds office. The history of your real estate property is recorded there.

Description : What is a lien on shares?

Last Answer : What is a lien on shares?

Description : If you own a home in Tennessee can a unserced credit card with a lien force the sale of your house?

Last Answer : Need answer

Description : How long does a property lien last in the state of AR?

Last Answer : Statutes of limitation on liens is a complicated area of law. The answers are not simple and there are additional details that need to be ascertained before a definitive answer can be ... lifetime to foreclose a right of redemption for tax titles purchased after 2002. Additional factors apply.

Description : Can you put a lien on an ex employer property who owes you wages?

Last Answer : What is the answer ?

Description : Release of Labor Lien?

Last Answer : Release of Labor Lien(Download)STATE OF ____________COUNTY OF _______________________________, referred to as HOLDER, is the owner/claimant of that certain Labor Lien ... commission expires: ___________________Release of Labor LienReview ListThis review list is pro

Description : how to tell if there is a lien on vehicle ?

Last Answer : free vehicle lien check ?

Description : What counties in maryland allow otc tax lien certificates?

Last Answer : “What counties in Maryland allow otc tax lien certificates”

Description : IS THERE A LIEN ON IT?

Last Answer : is there a lien on this car

Description : how do i find out if i have a tax lien?

Last Answer : 5640 N. Milldam Pl, 83714 how do i find out if i have a tax lien on tv How to I see if I have a tax lien against me “how do i find out if i have a tax lien?” Want to know if lien is on ... , Galt, California, 95632 how i find out if i hace a tx lien? where is a free list of tax liens and deeds

Description : What does it mean if there's a lien on a car title?

Last Answer : A lien on a car title most typically means that money is still owed on the car. When a person takes out a loan on a car a lien is put on the title until the full repayment of the loan.

Description : How can you get a state tax lien lifted?

Last Answer : You have a few options with getting a tax lien lifted. The main oneis just waiting until the lien expires and that is what most people do. You can also pay back the taxes and the lien will be lifted thirty days after you have payed it off.

Description : How can I avoid a federal tax lien?

Last Answer : The best way to avoid a federal tax lien is to pay your federal taxes on time. However if you are unable to pay, contact the IRS and they will negotiate a payment plan with you for a small fee.

Description : bought car from private owner. He could not find title. Husband gave 1/2 money to seller. Seller and husband signed agreement full pay after receive title. Four weeks passed no title. I call dmv in LA and no title dup. requested. Car has lien. We have car?

Last Answer : If you wish to receive a legal standpoint then you should contact an attorney.

Description : What is a tax lien list and where can I access them?

Last Answer : States usually have tax lien lists posted by county, as the property tax goes to the county in which the property-owner resides. You can find them either online by going to your state or county's website or by going down to the physical county office.

Description : What is a tax lien list, and what does it mean for a business?

Last Answer : A tax lien is issued when a company fails to pay their taxes. If they do not pay their back taxes the property may be foreclosed. A tax lien list contains a list of delinquent properties.

Description : What does the term irs lien mean?

Last Answer : An IRS tax lien means the IRS is placing a lien against your hours or other personal property. This is usually due to you owing the IRS an amount of money. If you cannot pay it within a certain amount of ... put a lien on your property, seize it, and sell it in order to make the money they are owed.

Description : Where can I find information about a federal tax lien?

Last Answer : There are a number of options which include paying the back tax, work with the IRS to set up a payment plan, and more. You can find more information by visiting www.irs.gov.

Description : Lien Processing Is A Financial Service?

Last Answer : At some point in time everyone is faced with the decision to buy something on credit. It may be a car, a house, an appliance, or a tract of land that requires some sort of financing to ... If the proceeds are less than what's owed on the property the owner is responsible for the difference an

Description : Which of the following forms of securing a loan is the safest one? A. Lien B. Assignment C. Pledge D. Hypothecation E. Mortgage

Last Answer : C. Pledge Explanation: A pledged asset is collateral pledged by a borrower to a lender (usually in return for a loan). The lender has the right to seize the collateral if the borrower defaults on the obligation.

Description : A charge where there is neither the transfer of ownership nor the possession is called _______ A. Pledge B. Hypothecation C. Mortgage D. Lien E. None of the Above

Last Answer : B. Hypothecation Explanation: A charge against property for an amount of debt where neither ownership nor possession is passed to the creditor.

Description : If A performs the duties of post on which another person holds a lien then it will be treated as --------- a. A is working under probation period b. A is working under training period c. A is officiating

Last Answer : c. A is officiating

Description : Number of persons so entitled is more than the posts available then lien will be given on------------ basis a. Junior most person in the grade will be liable to be reverted b . Senior most person in the grade will be liable to reverted c . None of the above

Last Answer : a. Junior most person in the grade will be liable to be reverted

Description : The Right of Lien is exercised: A. To retain the possession of goods B. To regain the possession of goods C. To resell the goods D. To transfer the goods

Last Answer : A. To retain the possession of goods

Description : Where an unpaid seller has made part delivery of the goods he may exercise his Right of _______ A. Return of remaining goods B. Lien on the remaining goods C. Sale to any other person D. None of above

Last Answer : B. Lien on the remaining goods

Description : Under which of the circumstances unpaid seller loses his right of lien A. By estoppel B. Where seller waived the right of lien C. Where the buyer or his agent lawfully obtains possession of the goods D. Any of the above

Last Answer : D. Any of the above

Description : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful

Last Answer : c) unpaid seller lien does not revive

Description : In which of the following cases, the unpaid seller loses his right of lien? a) delivery of goods to buyer b)delivery of goods to carrier c) tender of price by buyer d) all of these

Last Answer : c) tender of price by buyer

Description : The unpaid seller can exercise his right of lien over the goods for a) any lawfull charges b)price of goods c) storage charges d)all of these

Last Answer : d)all of these

Description : Which one of the following is not a duty of an agent? a. Right of retainer b. Right of lien c. Right to remuneration d. Right to recover damage

Last Answer : d. Right to recover damage

Description : Right of a person to retain possession of some goods belonging to another until some debts of the person in possession is satisfied a) Pledge b) Bailment c) Lien d) Guarantee

Last Answer : c) Lien

Description : Choose the incorrect; Rights of bailee: a) Rights of implied b) Bailor’s lien c) Termination of bailment d) Enforcement of duties of bailor

Last Answer : c) Termination of bailment

Description : The bailment of goods as security for payment of a debt or performance of a promise a) Pledge b) Lien c) Agency d) Bailment

Last Answer : a) Pledge

Description : Which are the rights of finder of goods a) Rights of lien b) Right to sue for reward c) Right to sale d) All of the above

Last Answer : d) All of the above

Description : A lien which is available only against that property of which the skill and labour have been exercised (a) General Lien (b) Particular Lien (c) Ordinary Lien (d) Both (a) & (b)

Last Answer : (b) Particular Lien

Description : What is quantum mechanics?

Last Answer : Quantum mechanics is the branch of physics that studies the behavior of matter and energy at the atomic and subatomic level, often characterized by the phenomena of wave-particle duality and uncertainty.

Description : Mechanics: What is so special about my Jeep Cherokee SUV that only the dealer has the equipment to service it?

Last Answer : Both of my Ford products must have the all-wheel drive system repair work done at a limited number of Ford dealers, because of equipment and special training. IT maybe the Fiat/Chrysler doing the same thing. ... be back again for the same problem in three months and they don't want to deal with it.

Description : Are there any calculation software of structural mechanics for ships?

Last Answer : answer:I have no doubt that there are, but you're not likely to gain a lot of insight into those in this forum. (But welcome to ask-public, anyway.) ASME has pressure vessel calculation ... be the kind of software that is proprietary to particular builders and designers; not off-the-shelf software.)

Description : Where can I download the book of structural Mechanics for Ships?

Last Answer : A google search finds these

Description : Are there any popular forums about offshore and soil mechanics?

Last Answer : answer:What about this one? I had a look and it seems safe to use, quite active and hopefully will have some people who can help you with your questions. On ask-public we have many experts ... our expert? But please do stay and participate in some other questions and answers. We welcome new people.

Description : Who can tell me some popular websites about ship stability or ship mechanics or ship building?

Last Answer : This Wikipedia article should get you started. If you have access to Google where you are or another search engine, you can search “ship building” and several pertinent sites will come up.

Description : What mechanics allow these birds to swarm without crashing into each other?

Last Answer : answer:Starling flocks have no leader. Each bird in the flock obeys a few simple rules: Stick with your own kind, maintain your personal space envelope (tight to each side, but roomier in ... flock can initiate a change in direction, and the whole flock will respond just by following these rules.