Parties in the construction industry who are unpaid after furnishing labor and/or materials to a project are generally able to secure payment through the use of a mechanics lien. There are many reasons why mechanics liens are the most…Read More
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A mechanic’s lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property.
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…Read More
With the high failure rates in the construction industry, many companies have a nagging worry about a customer filing for bankruptcy with invoices still unpaid. It’s unfortunate, but this worry is not unfounded, and the dread of receiving a bankruptcy…Read More
Mechanics liens are statutory security instruments granted to parties who perform labor and/or furnish materials to a construction project. Generally, the security provided is very strong because it the improved property itself is the collateral for payment. This…Read More
Mechanics liens provide good protection against the risk of non-payment on construction projects. One of the reasons why is that mechanics liens encumber the improved property itself, and generally, have priority over other subsequent encumbrances on the property. This…Read More
What happens after you file a lien? We hope you get paid, and that’s generally the case, but it doesn’t always happen. In the few cases when filing a lien does not result in payment, the next step to recover the money owed is generally filing a law suit to enforce your…Read More
Participants in the construction industry are in an enviable position in that the ability to secure every extension of labor and/or materials on credit is built directly into the law, as long as certain procedural steps are taken. Despite this,…Read More
Unfortunately, the failure rate of construction industry participants is high. This means that the bankruptcy or pending bankruptcy of a contractor is more common than many people may think, and definitely not an unheard-of reason for payment problems….Read More
Mechanics lien laws can be complicated and in light of a surge of P3 projects, this has never been more true. What… Read More
Since P3s are made up of a combination of public and private investments, the legislation can get complicated.
No matter what industry you’re a part of, payment is always a concern. This is especially true in the construction industry, where a relatively recent survey found that 0% of parties questioned stated that they…Read More