Levelset
JULY 5, 2022
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?
Levelset
MARCH 30, 2022
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. Rules & requirements for a homestead lien.
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Levelset
APRIL 1, 2022
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. In an attempt to make things clearer, let’s look at what type of work restoration and remediation contractors can file a lien for — and what type of work is less likely to be protected.
NH Construction Law
OCTOBER 22, 2023
It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. No one thinks to ask whether the contractor has pledged its receivables to secure a loan or line of credit. Suffolk Construction Co. ,
Best Practices Construction Law
SEPTEMBER 13, 2018
The new statute, signed into in May 2018, immediately created a cause of action providing for remedies for the successful challenge of the validity of a lien against a property. 4) Any actual damages incurred by the owner. 4) Any actual damages incurred by the owner.
Construction Marketing
JULY 11, 2022
Surety bonds are financial guarantees that are issued to ensure the individual or company who obtains the bond will perform work in a legally compliant manner and will avoid fraud and misconduct. Surety – The bonding company that guarantees the principal’s ethical operations and legal compliance by issuing the bond.
Levelset
MAY 11, 2022
Generally, companies aren’t able to file mechanics liens on public projects unlike with private projects, as the federal government — and many states — prohibit private entities from claiming an interest in public property. On-demand legal help you can afford. New York City has additional rules for payment protection as well.
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