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What is mechanics and materialman lien coverage?

April 26, 2017coverage lien materialman mechanics

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What is mechanics and materialman lien coverage?

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This is a special type of title insurance which is purchased in connection with a construction loan. It provides coverage in the event that any liens are filed against the property as the result of non-payment of any fees or expenses related to construction. This coverage is usually mandated by lenders at the time of permanent financing.