Definition of mechanic's lien

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TeachMeFinance.com - explain mechanic's lien



mechanic's lien -- a legal, enforceable claim for payment to a person who has performed work or supplied materials used in the construction or repair of a building. The building and land is attached as security for payment of the claim. Mechanic's liens are permitted by the laws of most states. Also called a materialmen's lien.


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