A contractor files a mechanic's lien in Alabama for $45,000 of unpaid work. If the lien is foreclosed and the property sells for $38,000 after legal fees of $3,200, how much can the contractor recover?
Correct Answer
C) $34,800
The contractor can recover the net proceeds after legal fees: $38,000 - $3,200 = $34,800, which is less than the lien amount.
Why This Is the Correct Answer
The contractor can recover the net proceeds after legal fees: $38,000 - $3,200 = $34,800, which is less than the lien amount.
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