Ways to avoid fallout from a mechanics lien?

If you are a property owner, you should keep yourself informed about mechanics lien and pay attention to it.  Do you want to know why?  Because mechanics lien gives contractors, subcontractors, and suppliers of materials and other items the right to potentially force the sale of your property in order to cover the cost of work they performed at your property or materials they used to improve the property.

A point to be noted here is that a properly instituted mechanics lien can hurt your pocket. It also enables a contractor or a subcontractor to kick-start a foreclosure on your property to fulfill the amounts due under the contract. Also, a lien against your property is the blot on your title as it can affect your relationship with your lender and your ability to sell the property.

If you follow some tips, you can prevent fallout from a mechanics lien. First of all, check whether the contractor is licensed by the state or not because unlicensed contractors and sub-contractors cannot file for this lien.  Timing is everything when it comes to this lien. If it is filed against you, double check it to make sure it is valid and is filed in the stipulated period. If the contractor, subcontractor or supplier fails to file and serve the lien statement within the required timeframe, the lien loses the power to kick-start a foreclosure. You should hire a professional solicitor with good experience in judgment enforcement and mechanics lien.

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Created on Oct 30th 2017 02:56. Viewed 416 times.

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