Real Estate Advisor

Attorney at Law


 

 

Real

Estate

Advisor

Q. What is a mechanic’s lien?


A. A mechanic’s lien is a form of security, much like a deed of trust, that creates an interest in real estate to assure payment for material furnished or services provided for its improvement.


The holder of the mechanic’s lien can foreclose on the property if the obligation for payment is not paid. This provides a secondary source of repayment if the property owner does not voluntarily pay.


Q. Can a contractor file a mechanic’s lien on an entire condominium building if the contractor was hired by a single owner to do work on an individual unit?


A. No. Only the individual unit can be liened.


Michael Chulak is a partner with Chulak & Shiffman, Attorneys at Law. Questions can be sent to 30343 Canwood St., Suite 203, Agoura Hills, CA 91301. Answers are general in nature.


An attorney should always be consulted when legal advice is needed.


For more information: www.MTCLaw.com and www.HOAQandA.com.




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