Mechanics Lien: Canada Debt .ca defines Mechanics Lien

Bankruptcy Term Mechanics Lien

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Canada Debt has the definition to the bankruptcy and debt term Mechanics Lien. Finding answers to terms such as Mechanics Lien can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Mechanics Lien in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Mechanics Lien' is used as follows:

A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property, it is called by various names, including, generically, construction lien. It is also called a materialman's lien or supplier's lien when referring to those supplying materials, a laborer's lien when referring to those supplying labor, and a design professional's lien when referring to architects or designers who contribute to a work of improvement