Asked by
Erick Portillo
on Dec 19, 2024Verified
A small-amount mechanic's lien typically stays on record until the property against which it has been filed is sold when it is paid out of the sale proceeds.
Mechanic's Lien
A security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property.
Sale Proceeds
The total amount received from the sale of an asset or property.
- Acquire knowledge on how liens are prioritized and their applicability in debt clearance.
Verified Answer
JL
Learning Objectives
- Acquire knowledge on how liens are prioritized and their applicability in debt clearance.