|
What's News in the Mechanics' Lien Law:
LienItNow.com is now posting
news information relating to the construction
industry on its
Construction Industry Blog.
The blog entries contain new and valuable
information for companies tied to the construction
industry, with an emphasis on mechanics lien law
developments.
Press Release:
LienItNow.com Goes National
Press Release:
LienItNow.com Provides Lien Filing Services to
Landscape Contractors
Press Release:
LienItNow.com Adds Live Online Help To Its Website
Article of Interest:
NJ Supreme Court Rules on Residential Construction
Lien Filings
LienItNow.com files
mechanics liens on private construction projects,
public construction projects, and residential
construction projects. On commercial and residential
projects, mechanics liens encumber real property.
On public projects, liens encumber public
monies set aside for the public project. In all
cases, the filing of a mechanics lien freezes the
funds that an owner has contractually allocated to a
project. For unpaid subcontractors, the contract
balance between the owner and the general contractor
at the time the lien is filed becomes a lien fund,
against which a lien claimant can pursue its money.
The filing of mechanics lien claims also encumber
the property on which the project is located,
similar to a mortgage. Liens inhibit the sale of
property, construction loan draws, and refinancing
until the property owner addresses the lien.
Ultimately, a lawsuit can be filed for the
enforcement of a mechanics lien. |
