Claim of Lien

A Claim of Lien is a legal notice filed by a contractor, subcontractor, or supplier who is owed money for work or materials provided on a property. By filing this claim, they assert their right to a financial interest in the property until the debt is paid. This can affect the property owner's ability to sell or refinance the property. Essentially, it acts as a warning to the property owner and potential buyers that there are outstanding payments linked to the property, protecting the rights of those who contributed to its value.