mechanic's lien

mechanic's lien
mechanic's lien
A claim, created by state law, granted to suppliers of labor and/or material to building projects, to secure priority of payment of the price of work performed or materials supplied in erecting, constructing, altering, or repairing a building or other structure; the claim encumbers the land and the building and improvements thereon. (Bernstein's Dictionary of Bankruptcy Terminology)

See: builder's lien and repairer's lien. (Dictionary of Canadian Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.


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