Property Ownership
In Maryland, a mechanic's lien may be filed by:
AAny creditor of the property owner
BContractors, subcontractors, and suppliers who provided labor or materials and were not paid✓ Correct
CThe county assessor for unpaid taxes
DThe mortgage lender for unpaid installments
Explanation
Maryland mechanic's liens protect contractors, subcontractors, and material suppliers who improve property but are not paid. The lien attaches to the real property.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
State-Specific Concepts
Mechanic's Lien
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