Ranch West owes Silo & Barn Inc. $5,000 on their contract, but refuses to pay. To collect, Silo files a mechanic's lien, under which security for the debt is represented by

Question

Quizplus · Accepted Answer

A mechanic's lien typically provides security for a debt through a claim against the debtor's real estate, not personal property or other forms of collateral. This type of lien ensures that the party filing the lien (in this case, Silo & Barn Inc.) has a legal claim to the property equivalent to the amount owed until the debt is paid.

Ranch West Owes Silo & Barn Inc