Mechanics Lien at Real Estate Glossary
What is it? Subcontractors or suppliers sometimes will file an encumbrance, or mechanics lien, against a property to seek payment.Real Estate Definition Added By: Brendan
The Mechanics Lien definition has been viewed 175 Time(s)!
Send To Friends!
If you'd like to send the Mechanics Lien definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Mechanics Lien. If you need any more information on this term, please don't hesitate to contact us.
Other Similar Real Estate Terms:
Real Estate Term Purchase-Money Mortgage is A mortgage given as part of the buyers consideration for the purchase of real property, and delivered at the same time that the real property is transferred as a part of the transaction. It is commonly a mortgage taken back by a seller from a purchaser iReal Estate Term Legal description is A specific way of identifying and locating a piece of real estate that is acceptable to a court.
Real Estate Term Sellers Agent is An agent who represents the seller of real property. (See buyers agent)
Real Estate Term Red Flag is A visual sign or indication of a defect. Something that warns a reasonably observant person of a potential problem, thus requiring further investigation. A broker who spots uneven floors or water-stained ceilings is on notice to inquire about soil settlem
Real Estate Term Tax Deferred Exchange (1031 Exchange) is Under Section 1031 of the Internal Revenue Code, some or all of the realized gain from the exchange of property may not need to be immediately recognized for tax purposes. Both properties in an exchange must be held for productive use in trade or business