When a tradesman provides materials and services, the law provides him with a lien upon the item that was improved by his skill, materials, and labor. These liens come in two different varieties, the mechanic's lien and the repairman's lien.
A repairman's lien applies only to personal property and is created by long-standing common (judge-made) law. It most commonly arises with motor vehicles, but it applies to all items of personal property. The lien is created automatically when anyone makes repairs to personal property. It exists only as long as the item repaired is in the repairman's possession and the debt is unpaid. The repairman may hold the property until such time as the lien is repaid. This lien even takes priority over the lien held by a bank that financed the item, so that the bank cannot repossess the item from the repairman without first paying the repair bill. This makes sense because it is only fair that the bank pay for the repairs that improved the value of the property is it repossessing.
A New Mexico Waiver of Lien by Automobile or Car Mechanic is a legal document used by mechanics or auto repair shops to release their lien or claim on a vehicle once the necessary repairs or services have been fully paid for. This waiver is crucial for both the mechanic and the vehicle owner as it ensures that the ownership of the vehicle is clear and no outstanding debts remain. In New Mexico, there are two commonly used types of waivers of lien by automobile or car mechanic: 1. Conditional Waiver of Lien: This type of waiver is used when the mechanic or repair shop is paid with a check or any other payment method that has the potential to bounce or not clear. The conditional waiver is signed by the mechanic upon receiving the payment and states that the lien will be released once the payment is successfully cleared by the bank. 2. Unconditional Waiver of Lien: This waiver is used when the mechanic or repair shop has received full and immediate payment for the services provided. By signing this document, the mechanic declares that they have no further claim or lien on the vehicle and release any rights they may have had. Keywords: New Mexico, Waiver of Lien, automobile, car mechanic, legal document, release lien, vehicle repair, conditional waiver of lien, unconditional waiver of lien, mechanic payment, vehicle ownership, outstanding debts.A New Mexico Waiver of Lien by Automobile or Car Mechanic is a legal document used by mechanics or auto repair shops to release their lien or claim on a vehicle once the necessary repairs or services have been fully paid for. This waiver is crucial for both the mechanic and the vehicle owner as it ensures that the ownership of the vehicle is clear and no outstanding debts remain. In New Mexico, there are two commonly used types of waivers of lien by automobile or car mechanic: 1. Conditional Waiver of Lien: This type of waiver is used when the mechanic or repair shop is paid with a check or any other payment method that has the potential to bounce or not clear. The conditional waiver is signed by the mechanic upon receiving the payment and states that the lien will be released once the payment is successfully cleared by the bank. 2. Unconditional Waiver of Lien: This waiver is used when the mechanic or repair shop has received full and immediate payment for the services provided. By signing this document, the mechanic declares that they have no further claim or lien on the vehicle and release any rights they may have had. Keywords: New Mexico, Waiver of Lien, automobile, car mechanic, legal document, release lien, vehicle repair, conditional waiver of lien, unconditional waiver of lien, mechanic payment, vehicle ownership, outstanding debts.
