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Does a Lien Affect Your Credit Score?

Levelset

If you receive a notice that a lien has been filed on your property, you may wonder how it will affect your credit score and your ability to borrow money or get credit. Mechanics liens are different from other collection instruments, so they are treated differently when it comes to reporting on your credit history. What is a lien?

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Can Restoration & Remediation Contractors File a Mechanics Lien?

Levelset

Restoration and remediation contractors provide a unique blend of services. The variety of services they provide can create a lot of confusion around their right to file a mechanics lien if they don’t get paid. An overview of mechanics lien rights. Lien rights depend on the type of restoration work.

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Pennsylvania Appellate Court Clarifies Recovery and Service Requirements of Mechanics’ Lien Law

Constructlaw

The Superior Court of Pennsylvania concluded 2023 by issuing two opinions that clarify (1) the costs recoverable under the Lien Law and (2) the requirements for perfecting service of a lien claim. The trial court sustained the preliminary objections and dismissed the lien. Second, in Belfor Prop. Restoration v.

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Mechanics liens up 40% as COVID-19 pandemic disrupts industry

Construction Dive

The increase in liens filed from January through March indicates that contractors and suppliers took action to protect their payments as projects began to shut down in response to the novel coronavirus.

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#134:  30-Day Accountings for Subcontractor/Supplier Mechanic’s Liens

NH Construction Law

It is generally recognized by New Hampshire courts that “[f]ailure to comply with the specific statutory provisions of perfecting a mechanics lien is usually fatal,” Alex Builders & Sons, Inc. Danley , 161 N.H. 19, 23 (2010). Bostwick , 69 N.H. It is the claimant who must be proactive here.

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Texas Homestead Lien Rules & Requirements

Levelset

Mechanics liens are among the most powerful tools for contractors to ensure they get paid what they’ve earned on a construction project. In Texas, contractors must send multiple notices and meet strict deadlines to preserve their right to a lien if they need to file one. General contractor requirements.

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Broad Form Lien Waivers No Longer Part of the Game in North Carolina

Best Practices Construction Law

And if you are a contractor or subcontractor in North Carolina, the law makers recently afforded you some additional protections to your lien rights. The law, effective March 1, 2022, states that a similar advanced or broad lien waiver as part of a progress payment is also not enforceable.