Every month we gather the most pressing developments in lien law nationwide, so that you can stay informed and on top of any developments affecting your projects or company. Here are our highlights for the month of May:
Changes to the Law on Obtaining a Mechanics Lien in Iowa
Changes to Iowa’s mechanics lien statute mean the repeal of a provision that blocked construction professionals from filing mechanics liens in situations where the contractor or supplier has received some other form of collateral from the owner. This change takes effect on July 1, 2018 and are mainly aimed at allowing material suppliers and others who commonly get personal guarantees for their services to have the additional option of filing a mechanics lien on the property should the need arise. Read More.
Records: Knoxville Center Mall owners owe more than $600K in back taxes
In Tennessee, the Knoxville Center Mall owners owe a significant amount of back taxes in addition to over $70,000 in mechanics liens placed by the landscaping company against the property. As the mall continues to lose tenants, they begin showing more and more signs of being in financial distress. While owners have assured local officials payments are forthcoming, they are already several years behind. Read More.
New home nightmare: Menomonee Falls homeowners fighting $27,000 lien they didn’t know about
In Menomonee Falls outside of Milwaukee, two new home owners recently discovered that their home was subject to a mechanics lien they weren’t aware of. The home was recently renovated and the new owners, after completing the purchase for the home, were handed notice of an impending mechanics lien against the property. The couple will likely have to go after the seller for breach of contract. Read More.
The team at National Lien & Bond pays attention to both the national news, construction specific news, and changes in laws and regulations that impact the industry. We work to ensure our clients are following the right processes for mechanics liens in every jurisdiction and are informed on changes to laws that may have an impact. Reach out to our team of experienced construction lawyers today to schedule a consultation.
This blog is for educational purposes only and not intended for legal advice.