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Priority is king with liens, so what happens when everyone wants the same money?

from By Nate Budde

From Aug. 24: Mechanics liens are a great way to secure payment on a construction project. Rather than relying on contractual remedies, a mechanics lien allows a party to encumber a property until the debt has been paid. Lien law can be a load to handle by itself, but lienholders have even more to worry about when multiple secured creditors are involved. In these situations, priority can make or break a claim. more

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