Perfect Law & Legal Definition
Perfect is subject to different meanings, but in the context of real estate, it refers to the act of making complete or taking all required steps to obtain a result, such as obtaining a lien or other security by legal action or completing and filing all documents to present a case to a court of appeals. It is often used to refer to the filing of a lien with the appropriate entity responsible for land records, such as the county recorder's office. A mechanic's lien for labor and/or materials used to improve real property is "perfected" by filing a lawsuit and obtaining a judgment that the lien attaches to the property.
If a creditor has liens against him/her by more than one person, the person who has perfected their lien will get priority over a lien that is not perfected. State law varies, but the lien created by the statutory framework must be perfected and preserved within the time period set forth in the statutes.
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