Browse Proptionary encyclopedia

Build your real estate vocabulary to be able to communicate and invest more effectively and professionally.

Verification

DEFINITION

Sworn statement under oath regarding the validity of a statement.

EXPLANATION

A mechanic’s lien cannot be placed on a property until it is verified. Verification is a sworn statement under oath regarding the validity of a claim. In the case of a mechanic’s lien, this occurs when a contractor provides a court with proof of his/her claim to a mechanic’s lien, including documentation of the service agreement and the services performed.

If there is no documentation to support a contractor’s claim to a mechanic’s lien, the contractor must make an affirmation. An affirmation is a legal declaration — similar to an oath — that verifies information to be true.

[quiz-new]