Describe the mechanic's lien and the artisan's lien
What will be an ideal response?
A mechanic's lien is placed on the real property of a debtor when the latter does not pay for the work done by the creditor. In effect, a debtor-creditor relationship is created, in which the real property becomes the security interest for the debt owed. For example, when a contractor adds a room onto the house of the debtor and payment is not made, the contractor becomes a lien holder on the property after a period of time (usually 60 to 120 days), and foreclosure may take place. Notice of foreclosure must be given to the debtor in advance.
An artisan's lien is created by common law that enables a creditor to recover payment from a debtor for labor and services provided on the latter's personal property. For example, Andrew leaves a lawn mower at Jake's repair shop. Jake repairs the lawn mower, but Andrew never picks up his personal property. After a period of time, Jake can attach the lawn mower.
Once a debt is due and the creditor brings legal action, the debtor's property may be seized by virtue of a judicial lien. Types of judicial liens include attachment, writ of execution, and garnishment.
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