What is a "builders lien" - The bank insists that my builder waives his lien.

2009-10-02

 

A lien - (retaining possession), regulated by common law, over the structure is one of the best tools a contract has in order to ensure payment for work undertaken.

 

When a client obtains finance from a bank, the bank will require the contractor to sign a document waiving his lien.

 

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