What happens when a contractor files a lien?

What Is a Mechanics' (Construction) Lien? When a contractor files a mechanics' (construction) lien on your home, the lien makes your home into what's called security for an outstanding debt, which the contractor claims is due and unpaid for services or materials.

A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A lien could be established by a creditor or a legal judgement. A lien serves to guarantee an underlying obligation, such as the repayment of a loan.

How does a construction lien work?

A construction lien is a claim made against a property by a contractor or subcontractor who has not been paid for work done on that property. Construction liens are designed to protect professionals from the risk of not being paid for services rendered.

What does it mean to file a lien?

A lien is a legal right or claim against a property by a creditor. Liens are commonly placed against property, such as homes and cars, so creditors, such as banks and credit unions, can collect what is owed to them. Liens can also be removed, giving the owner full and clear title to the property.

Missouri Excavation Contractor Package - Excavation Contract Template

Free Preview Excavation Bid Template

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Description Excavation Contracts

This package contains essential legal documents for Excavation Contractors to use to assert their legal rights or claims and to address important legal issues regarding particular residential excavation, backfill, grading or hauling projects. The heart of this package is an excavation contract that complies with state law.

Included in your package are the following forms:

1. An Excavation, Backfill, Grading and Hauling Contract - Cost Plus or Fixed Fee
2. A Change Order Sheet
3. A Certificate of Completion
4. A Weekly Equipment Summary
5. A Worker Safety and Health Plan
6. A Summary of Estimate
7. A Bid Log
8. A Bid Follow Up Letter and
9. A Construction Project Information Sheet.

Purchase this package and save more than 50% over purchasing the forms separately!

Excavating Contractors Definition Related Legal Forms

Related Legal Definitions

How To Fill Out Missouri Excavation Contractor Package?

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