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#106:  Construction Mortgage Priority and Direct Payments to Subs/Suppliers

NH Construction Law

A few years back I blogged ( #44 ) on the relative priorities of construction mortgages and mechanic’s liens under RSA 447:12-a. Regardless of who recorded first at the registry of deeds, that statute affords priority to mechanic’s liens except in two scenarios. Shawmut Bank , 139 N.H. 50 (1994), says that it is not.

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HUD Jumpstarts PACE Financing for Homes

Green Building Law Update

The concept is not new, but nationally, residential PACE programs generally have been put on hold or foregone as a result of concerns of HUD and the Federal Home Loan Banks, that issued a directive in February 2011 to refrain from purchasing mortgage loans secured by properties with outstanding first lien PACE obligations.

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

Construction projects rely on contractors completing the work they started and meeting the design intent. Mehdian recommends companies use software specifically designed to track retention. Debit Credit Bank or cash $90,000 Retention receivable $90,000. Debit Credit Bank or cash $10,000 Retention receivable $10,000.

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Illinois Supreme Court to Review Burke Case

Construction Lawyer

Heritage Bank, 2015 IL App (3d) 140064 (Jan. In a two-to-one opinion, the majority ruled that the lien was invalid because there was no improvement to the land, while the dissent maintained that the engineering services fell squarely within the provisions of the statute and the lien was valid. Meyer , 341 Ill. Rinaker , 185 Ill.

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Illinois Supreme Court to Review Burke Case

Construction Lawyer

Heritage Bank, 2015 IL App (3d) 140064 (Jan. In a two-to-one opinion, the majority ruled that the lien was invalid because there was no improvement to the land, while the dissent maintained that the engineering services fell squarely within the provisions of the statute and the lien was valid. Meyer , 341 Ill. Rinaker , 185 Ill.

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constructionattorneyblog: Subcontractor's Mechanics lien allowed.

Construction Lawyer

« Liability for green design | Main. Subcontractors Mechanics lien allowed where bank seized generals funds. 107108 (May 21, 2009), has ruled in favor of the subcontractor in enforcing a mechanics lien. Funds subject to a lien waiver are required to be held by the owner in trust for the subcontractor.

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Idle Equipment not entitled to Lien in Missouri

Construction Lawyer

Idle Equipment not entitled to Lien in Missouri. A Missouri court has affirmed a trial court ruling in favor of a lien claimant, but at an amount reduced by the trial court to reflect the value of the idle time for the equipment. April 20, 2009 in litigation , mechanics liens | Permalink. mechanics liens. 3d 489 (Mo.App.

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