MECHANICS LIEN definition

MECHANICS LIEN. WARNING: Anyone who helps improve your property, but who is not paid, may record what is called a mechanics' lien on your property. A mechanics' lien is a claim, like a mortgage or home equity loan, made against your property and recorded with the county recorder. Even if you pay your contractor in full, unpaid subcontractors, suppliers, and laborers who helped to improve your property may record mechanics' liens and sue you in court to foreclose the lien. If a court finds the lien is valid, you could be forced to pay twice or have a court officer sell your home to pay the lien. Liens can also affect your credit. To preserve their right to record a lien, each subcontractor and material supplier must provide you with a document called a “20 day
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MECHANICS LIEN is used to include any lien, encumbrance or charge levied or imposed upon all or any portion of, interest in or income from the Property on account of any mechanic's, laborer's, materialman's or construction lien or arising out of any debt or liability to or any claim of any contractor, mechanic, supplier, materialman or laborer and shall include any mechanic's notice of intention to file a lien given to Landlord or Tenant, any stop order given to Landlord or Tenant, any notice of refusal to pay naming Landlord or Tenant and any injunctive or equitable action brought by any person claiming to be entitled to any mechanic's lien.
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MECHANICS LIEN has the meaning set forth in Section 9.5.
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Examples of MECHANICS LIEN in a sentence

  • CONTRACTOR SHALL WAIVE AND RELEASE, AND DOES HEREBY WAIVE AND RELEASE, ANY AND EVERY MECHANIC'S LIEN OR RIGHT OF LIEN WHICH ACCRUES TO IT AT ANY TIME UPON ANY REAL ESTATE, BUILDING OR STRUCTURE OF THE COMPANY, ITS PARENT OR AFFILIATED COMPANIES, OR IF WORK IS TO BE PERFORMED ON PROPERTY OF THIRD PARTIES, EVERY MECHANIC'S LIEN OR RIGHT OF LIEN WHICH ACCRUES TO IT UPON ANY REAL ESTATE, BUILDING OR STRUCTURE OF SUCH THIRD PARTIES, AS A RESULT OF THE PERFORMANCE OF THE WORK.

  • MECHANIC'S LIEN DISCLOSURE: (a) Virginia law (Virginia Code §43-1 et seq.) permits persons performing labor or furnishing materials of the value of $50 or more, including the reasonable rental or use value of equipment, for site development improvements and/or for the construction, removal, repair or improvement of any building or structure permanently annexed to the Property shall have a lien, if perfected, against the Property.

  • TENANT SHALL NOTIFY ANY CONTRACTOR PERFORMING ANY CONSTRUCTION WORK IN THE PREMISES ON BEHALF OF TENANT THAT THIS LEASE SPECIFICALLY PROVIDES THAT THE INTEREST OF LANDLORD IN THE PREMISES SHALL NOT BE SUBJECT TO LIENS FOR IMPROVEMENTS MADE BY TENANT, AND NO MECHANIC'S LIEN OR OTHER LIEN FOR ANY SUCH LABOR, SERVICES, MATERIALS, SUPPLIES, MACHINERY, FIXTURES OR EQUIPMENT SHALL ATTACH TO OR AFFECT THE STATE OR INTEREST OF LANDLORD IN AND TO THE PREMISES, THE BUILDING, OR ANY PORTION THEREOF.

  • UNLESS OTHERWISE PROVIDED 789 IN THIS CONTRACT, THE OWNER'S TITLE POLICY WILL INCLUDE MECHANIC'S LIEN 790 COVERAGE.

  • SELLER UNDERSTANDS THAT BY ACCEPTING THIS CONTRACT IT HAS WAIVED ITS RIGHTS (IF ANY) TO ASSERT A LIEN AND IT WILL BE PRECLUDED FROM EXERCISING THE MECHANICS LIEN RIGHTS IT MAY OTHERWISE BE AFFORDED UNDER APPLICABLE STATE LAW.


More Definitions of MECHANICS LIEN

MECHANICS LIEN is used to include any lien, encumbrance or charge levied or imposed upon all or any portion of, interest in or income from the Property on account of any mechanic’s, laborer’s, materialman’s or construction lien or arising out of any debt or liability to or any claim of any contractor, mechanic, supplier, materialman or laborer and shall include any mechanic’s notice of intention to file a lien given to Landlord or Tenant, any stop order given to Landlord or Tenant, any notice of refusal to pay naming Landlord or Tenant and any injunctive or equitable action brought by any person claiming to be entitled to any mechanic’s lien.
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MECHANICS LIEN means any lien or claim arising pursuant to any statutory or equitable right permitting mechanics, carriers, warehousemen, materialmen, artisans, and laborers to place a lien against the Premises for the value of services, labor, equipment or materials furnished in connection with the Project.
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MECHANICS LIEN. All materials remain the property of Viking Fence Inc. until the contract is paid in full. Customer is responsible for obtaining all necessary permits, except where noted. Viking Fence is relieved of all liability related to location and property lines. Viking Fence is not responsible for damage to any underground lines or pipes. A copy of all other Viking Standard Subcontract Terms included with this proposal are posted at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/about- us/terms-and-conditions.
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MECHANICS LIEN means any lien that may be claimed by a Mechanic for the payment of its labor, services or materials provided in the construction of such improvement including without limitation all rights under applicable law, and any so-called “mechanic lien laws” whether available by constitution, statute, code or case law, or any rules or regulations promulgated thereunder.
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MECHANICS LIEN is defined in Section 6.02. “Mortgagee” is defined in Section 11.01. “OFAC” is defined in Section 15.28(a). “Other Allowances” is defined in Section 13.02(b). “Owner” means, as of any day, the owner of fee simple title to the Land on such day. Lease, ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇: City of Norfolk Page 3
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MECHANICS LIEN. Any mechanic's lien field against the demised Premises or the building for work claimed to have been done or for materials claimed to have been furnished to Tenant shall be discharged by Tenant within thirty (30) days after the filing of any mechanic's lien. If Tenant shall fail to cause such lien to be discharged within the period aforesaid, then, in addition to any other right or remedy which Landlord may have, Landlord may, but shall not be obligated to, discharge said lien either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding procedures, and any amount so paid by Landlord and all costs and expenses, including, but not limited to, attorney's fees, incurred by Landlord in connection therewith, plus interest, shall constitute additional rental Payable by Tenant under this lease and shall be paid by Tenant to Landlord on Demand.
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MECHANICS LIEN means any Lien filed by (or on behalf of) any contractor, materialman or other Person in connection with any work performed, or services or materials provided, with respect to the Property or any portion thereof, in each case regardless of whether the same is subordinate to the Lien(s) created by the Security Instruments, this Agreement or any other Loan Document.
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