"That's what credit managers have to keep preaching: 'I'm going to help you, the sub, figure out the strength of the GC on this project and the strength of our mechanic's lien
, payment bond, trust fund or other security rights on this project.
Peaches Caf, LLC, 32 N.Y.3d 348 (2018), involved the enforcement of a mechanic's lien
against a commercial landlord for work performed at the tenant's request.
A party seeking to enforce a target lien bond, which has the effect of dissolving a mechanic's lien
that has been placed on a property, need not record a copy of a complaint in the registry of deeds as a condition precedent to enforcing the bond, the Supreme Judicial Court decided March 29.
New York, NY, February 14, 2019 --(PR.com)-- Whether you are representing an Owner, a Contractor, or a Subcontractor on a project, a situation could arise that requires a mechanic's lien
to be dissolved through the use of a "Mechanic's lien
release bond." A Mechanic's Lien
Release Bond returns the legal right to sell or deal with the property to the owner, once the target lien bond is recorded at the appropriate Registry of Deeds and served on the lien claimant, it takes the place of the real property and the mechanic's lien
Oblon rejected an analogy to mechanics' liens and a case in which all owners were deemed necessary parties to a mechanic's lien
By Brian Johnson<br />BridgeTower Media Newswires<br />Three months after completing work on the Vikings practice facility and headquarters project in Eagan, Minnesota, two subcontractors are suing another contractor on the project, claiming they are still owed a combined $88,000 for their services.<br />In a mechanic's lien
foreclosure filed in Dakota County, St.
Three months after completing work on the Vikings practice facility and headquarters project in Eagan, two subcontractors are suing another contractor on the project, claiming they are still owed a combined $88,000 for their services.<br />In a mechanic's lien
foreclosure filed Tuesday in Dakota County, St.
Generally, lenders across the country have been wary to accept deeds in lieu where junior liens existed on the title, such as a mechanic's lien
or a second mortgage.
Furthermore, even if they were aware that the City was violating the law, and they attempted in good faith to comply with the City's additional requirements, as, for example, by holding off from filing a mechanic's lien
until the City actually denied a subcontractors payment guarantee claim, a claimant's time to file a mechanic's lien
may, by that time, have already expired.
On June 30, 2010, the Appellate Court of Illinois, First District, reversed a decision of the Circuit Court of Cook County, finding that a contractor's procedural violations of the Home Repair and Remodeling Act ("the Act") (815 ILCS 513/1 et seq) did not preclude the contractor from asserting a mechanic's lien
or breach of contract claim.
A mechanic's lien
is a statutory remedy which arises automatically when a contractor, subcontractor or supplier provides labor, services or materials to a construction project.