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How to clean up company in the Mechanic's Lien

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Hi Im Michelle! Welcome back to finely revealed. In this episode I want to talk about real estate again and in particular I want to talk about mechanics liens. Oftentimes you will have friends and family help you out in making modifications or repairs to your property. but there are certain situations where you need a contractor or a handyman or a subcontractor with you as a contractor. Somebody to help you build a fence. dig a pool, re-landscape the yard. paint the house. add new gutters, redo the roof, redo the driveway, redo the walk, remodel entire bathrooms, remodel the kitchen add a finished basement. All of those types of things you should have an agreement with the party whos doing the work with a start and end time, and a cost. You should also have written change orders if you have a written contract so that you can keep track and things dont get out of hand. The reason that Im telling you this is because if these people are not paid what they claim theyre owed

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Which type of lien has the highest priority?

Senior liens are those with the highest priority (often, but not always, the first lien recorded on a property), to be paid back in full before other liens are paid. Junior liens are those with lower priority, to be paid after senior liens are paid.

Does Arizona have a mechanics lien statute?

Arizona Lien Law If you sent a preliminary notice at the start of the project, youll have the right to file a mechanics lien if youre a contractor, subcontractor, or supplier who provided labor, materials, or services to the property and havent been paid.

How do I get around a mechanics lien?

Court Petition to Release the Property Lien If the lien claimant doesnt remove the invalid lien, and the time has expired to record the mechanics lien and take action to foreclose, you may petition the court for a decree to release the property from the lien.

What is a mechanics lien placed on a property by a contractor quizlet?

A Mechanics Lien is a hold placed on the title (ownership)of real estate by a contractor, material supplier, or other person who has improved the value of the property by performing work (e.g., carpentry) or supplying materials (e.g., lumber), but who has not been paid.

What is the equalization factor used in Illinois taxation is designed to?

The State equalization factor is used to bring all property in Illinois to a uniform level of assessment.

In what time frame if any is a Pennsylvania contractor permitted to file a mechanics lien?

A mechanics lien must be filed within six (6) months after completion of the work. A subcontractor must, at least thirty (30) days before a claim is filed, give to the owner formal written notice of an intent to file the claim.

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Clean up company in the Mechanic's Lien