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Article: Mechanic's liens in Alabama.(CONSTRUCTION CORNER)
- Article from:
- Business Credit
- Article date:
- September 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The term "mechanic's lien" is the generic name for any lien on realty in favor of persons furnishing labor or materials used in or for the erection of buildings or for making improvements to realty. Generally speaking, the purpose of mechanic's liens is to provide contractors, subcontractors, laborers, and suppliers with a mechanism to secure payment for materials and services provided on private construction projects. The purpose of a mechanic's lien is to prevent unjust enrichment--to prevent persons from enjoying the benefits of another's work or goods without paying compensation.
Like mechanic's liens in other states, a mechanic's lien in Alabama is a ...