Property Ownership
In Wyoming, a mechanic's lien may be filed by:
AOnly licensed contractors
BContractors, subcontractors, and materialmen who have provided labor or materials for property improvements✓ Correct
COnly lenders financing the construction
DOnly the property owner
Explanation
Wyoming's mechanic's lien law allows contractors, subcontractors, laborers, and materialmen who have provided labor or materials to improve real property to file a lien if they are not paid. The lien attaches to the property and must be foreclosed to enforce.
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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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
State-Specific Concepts
Mechanic's Lien
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