Mechanic's Lien
Claim on property by an unpaid workman or contractor. The property may be sold to recover the money owed. The legal justification of the mechanic's lien is that the labor and materials supplied increase the value of the property and therefore the property should be security for payment. Further, the workman should be compensated for his services. An example is an electrician or plumber who has not been paid for his work by the homeowner.
Popular Real Estate Terms
A rental contact in which the tenant's rental is tied to a change in the price level, such as the Gross National Price Deflator. ...
A mortgage provides the right to the bank to have a lien on the financed property with the borrower having title to the property. ...
A Construction method of using twice the number of framing members to provide additional structural strength. ...
Index of the costs to construct residential properties. ...
Space that is available to all tenants or owners, such as a courtyard, main entrance, elevator, and pool. ...
Type of material or substance typically made for railings around the outdoor front patio and for both sides of the stairs in the front and rear of house. Other examples are chairs and ...
Goods that are freely substitutable. It is goods of a given class or type, any unit of which is as acceptable as another, and capable of satisfying an obligation expressed in terms of the ...
Permission to do something that differs from the basic zoning requirement. An example is a homeowner receiving special authorization to build a two-family house in a single family zoned ...
Small, early twentieth century, one-story house or cottage. ...

Have a question or comment?
We're here to help.