Lien

Related terms

• Contract

  The legally binding agreement between owner and contractor that defines scope, price, schedule, and responsibilities. A remodel should ne…

• General Contractor (GC)

  The party responsible for the overall project — scheduling, hiring and managing subcontractors, pulling permits, and delivering the finis…

• Subcontractor

  A specialized trade (electrician, plumber, tile setter) hired by the general contractor to perform a portion of the work. You contract wi…

• Lien Waiver

  A signed document in which a contractor or supplier gives up the right to file a lien for a given payment. Collect lien waivers with each…

• Knee Wall

  A short wall, typically under a sloped roof or supporting a counter or railing, that is less than full ceiling height.

• Liquidated Damages

  A pre-agreed dollar amount the contractor owes the owner for each day a project runs past the contracted completion date. Must be a reaso…

• Joist

  One of the repetitive horizontal members that support a floor or ceiling, spanning between beams or walls. Joist size, spacing, and direc…

• Load-Bearing Wall

  A wall that carries weight from the structure above down to the foundation. Removing or opening one requires an engineered beam and posts…