A lien on property (such as a building or an invoice) given by statute to a worker or contractor who performs work or furnishes materials for the improvement of that property, until compensation is made for the improvement. Until that lien is satisfied, it usually takes precedence over all other liens.
Other terms explained in the Business Loans Glossary
Business Loans Glossary: Mechanics Lien
Business Loans Glossary: Mechanics Lien
YES
NO
Main Page
Article Id: 101 - Version: 3 - Created: 25-02-2008 - Last Updated: 26-03-2008 - Hits: 424
Categories: Glossary
Related Items
Comments
No comments yet!