Tag: Full Price v Unpaid Balance
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What Is a Stop Notice and Which States Allow Them?
While mechanics liens and bond claims are the most generally recognized means by which construction companies can secure payment, there is another construction document that can be used to prompt payment in a handful of states. This document, the Stop Notice, is not widely available and only appears in the laws of a few states.…
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Mechanics Lien Alabama: How to File an AL Mechanics Lien
If you have decided to file a mechanics lien in Alabama (by the way, the zlien office includes a number of SEC fans, and those rooting for the Alabama schools are pretty evenly split between RTR! and War Eagle!), this step-by-step guide (starting in the next paragraph, below) will tell you how. It’s important to…
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New Jersey Residential Mechanics Lien: A Convoluted Process
Every state has certain requirements that must be met in order to successfully file a mechanics lien. While many states’ guidelines are fairly easy to comprehend, that is not, unfortunately, universal. In New Jersey, the mechanics lien process for residential construction projects involves filing a required notice, and an independent arbitrator making a determination regarding the acceptable amount…
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Full Price Lien or Unpaid Balance?
The amount of money that can be secured by a mechanics lien varies from state-to-state. Most states’ laws follow one of two rules: Full Price Lien: The lien secures money for the total amount of work that has been provided by the lien claimant. Unpaid Balance Lien: The lien secures the amount of money that the property owner has…