Tag: Lien Release
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Do you Have to Cancel a Mechanics Lien, or Will It Expire?
First things first: there is no such thing as a mechanics lien that remains valid indefinitely. This means that mechanics liens expire according to a specific, set timetable in every single state nationwide. The exact timing and other requirements vary from state-to-state, but the fact that liens expire is a universal aspect of mechanics liens…
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4 Myths About Mechanics Lien Releases That Contractors Need to Know
Mechanics lien rules and requirements tend to be very confusing. Because of this, there’s a lot of misinformation out in the world about how mechanics liens work. There are many different aspects of mechanics liens that are misunderstood across the board, and one of those aspects is the mechanics lien release. Please read on for a…
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3 Reasons You Should Release Your Mechanics Lien Once You’ve Been Paid
The general answer is that, unless you got paid through a foreclosure action to enforce the lien (upon the conclusion of which the court would order the lien released), it’s likely that your lien is just sitting there in the property records still encumbering the property (or at least looking like it). So, now that…
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A Mechanics Lien Was Filed on My Property – What Do I Do Now?
While the purpose of mechanics liens is to get construction industry participants paid what they deserve, a mechanics lien can be an enormous burden on the property owner. Having a mechanics lien encumbering the property makes it difficult or impossible to refinance or sell the property, and can even force the property owner to pay…
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What is a Partial Release of Lien?
What is a Partial Release of Lien? A partial release of lien reduces the amount claimed to be owed with regard to a recorded mechanics lien. Typical lien releases cancel a mechanics lien claim entirely, whereas partial lien releases only apply to a portion of the amount originally claimed to be owed. Is a Partial…