Construction Law Monitor

APRIL 11, 2011

This post is to alert our readers to a recent change in Mississippi’s mechanic lien laws recently signed into law by Governor Barbour ( Senate Bill 2363 ). In a nutshell, the law makes two changes: Previously, the law provided that suits to enforce liens must be filed in circuit court.

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Lien Mississippi Debt Louisiana 44

Green Building Law Update

JULY 24, 2016

The concept is not new, but nationally, residential PACE programs generally have been put on hold or foregone as a result of concerns of HUD and the Federal Home Loan Banks, that issued a directive in February 2011 to refrain from purchasing mortgage loans secured by properties with outstanding first lien PACE obligations.

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Finance Lien Residential Commercial 120

Green Building Law Update

JANUARY 24, 2016

In the event of a default, the liability is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder consent is required. There were not similar concerns expressed about commercial loans. Commercial PACE programs are still very new.

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Lien Finance Commercial DC 120

Construction Lawyer

SEPTEMBER 22, 2005

Waivers of liens: fraud. The Bankruptcy Court for the Northern District of Illinois recently ruled that a contractor who falsified waivers of lien engaged in fraudulent conduct and his debt to the bank was non-dischargeable. Listed below are links to weblogs that reference Waivers of liens: fraud : Recent Posts.

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Lien Illinois AIA Chicago 40

Construction Lawyer

MAY 21, 2009

Subcontractors Mechanics lien allowed where bank seized generals funds. 107108 (May 21, 2009), has ruled in favor of the subcontractor in enforcing a mechanics lien. Funds subject to a lien waiver are required to be held by the owner in trust for the subcontractor. May 21, 2009 in litigation , mechanics liens | Permalink.

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Lien Illinois AIA Chicago 40

Green Building Law Update

SEPTEMBER 11, 2016

In the event of a default, the amount in default (but not the entire principal of the PACE loan) is a liability that is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder consent to a PACE loan is required.

Baltimore 120

Baltimore Maryland Finance Residential 120

Pro Builder

APRIL 25, 2022

These fees also typically include title policies (which ensure a seller has the right to transfer ownership of the property free of any liens, aka debts, which could be passed on to the new owners) and can include property and school taxes. Closing costs were lowest in the Midwest and South.

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North Dakota Wyoming Delaware DC 52

Construction Law Monitor

JUNE 17, 2014

In many instances in Louisiana and other states, material suppliers must send notice to the owner, general contractor and the party who hired them in order to preserve some type of lien or bond claim right if not timely paid. Knowing these rules can mean all the difference to whether a bill gets paid or it gets written off as bad debt.

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Louisiana Materials Contract Lien 58

Levelset

NOVEMBER 20, 2024

The VSOC essentially operates as a lien on project funds, meaning the public entity must hold onto the claimed amount until the payment dispute is resolved. As the court noted, “Due is defined as ‘[i]mmediately enforceable’ or ‘[o]wing or payable; constituting a debt.’

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Claims Colorado Change Orders Lien 52

Construction Law Monitor

NOVEMBER 6, 2013

You can also file a mechanics lien to bridge the gap. Construction Liens: Are There Any Downsides? Before these legal remedies, however, you may get good results from a simple and ineffective step: sending an attorney demand letter. One flat fee and your customer gets the demand letter, and usually pays up. Related articles.

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Lien Cash Flow Accounting Debt 51

Construction Law Monitor

SEPTEMBER 27, 2010

Well, PACE loans create a lien against properties similar to a tax lien, meaning that the lien has priority over all other debts (including mortgages). The value of these loans can be between $10,000 and $100,000, and sometimes more.

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Finance Lien Green Louisiana 48

Construction Law Monitor

JUNE 16, 2014

In many instances in Louisiana and other states, material suppliers must send notice to the owner, general contractor and the party who hired them in order to preserve some type of lien or bond claim right if not timely paid. Knowing these rules can mean all the difference to whether a bill gets paid or it gets written off as bad debt.

Louisiana 40

Louisiana Materials Contract Lien 40

NH Construction Law

MAY 28, 2018

The threat of that withholding may be enough to entice the sub to prioritize scarce dollars toward employee-related debts before feeding any other wolf at the door. any principal of the sub signing the lien waiver may also be liable to the general. I generally do not recommend this except as a last resort.

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Subcontracting New Hampshire Lien Insurance 40

Autodesk Construction Cloud

NOVEMBER 15, 2021

The difference between secured and unsecured debts. You are owed a debt. Unsecured credit means the debt is not tied to any collateral. You can collect on the debt by taking things to court, obtaining a judgment, and finding assets to collect the amount owed. A home mortgage is a common example of secured debt.

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Contract Contractors Negotiation Subcontracting 52

Contractor Bookkeeping

MARCH 9, 2013

Some Contractors Hire Part Time Secretaries to do everything including construction bookkeeping and then wonder why their company debts keep growing and crushing them. Sending the Notice to Owner of Intent To Lien to protect my financial interests. No experience needed, anyone who can fog a mirror can do construction bookkeeping".

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Contractors Cash Flow Banking Change Orders 48

Levelset

AUGUST 16, 2022

The surety is also likely to explore a contractor’s payment history on past projects — an inability to make on-time payments to subcontractors and suppliers can increase the risk of mechanics liens or bond claims. . Next, subtract the sum of your accounts payable, short-term debts owed, and over-billings.

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Risk Cash Flow Construction Banking 52

Levelset

AUGUST 4, 2022

Financing activities include stock offerings and long-term debt. Using tools like a mechanics lien to secure payment can help ease the burden. Operating activities include income from sales minus labor expenses and other costs of doing business. Not every business has activities in all three categories, so just use the ones that apply.

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Cash Flow Budgeting Budget Forecasting 52

Buisness Facilities Contributed Content

APRIL 15, 2014

million loan participation program fostering business expansion and job creation in Arizona by providing debt financing for small businesses (in collaboration with private finance partners). Additionally, the company must demonstrate that it can service the debt. 97% increase in personal property tax exemption. TAX INCENTIVES.

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Income Finance Zoning Employment 108

Buisness Facilities Contributed Content

JULY 11, 2014

New Venture Capital Fund: The New Venture Capital Program is an innovative financial program that provides flexible financing through debt and equity investments for new or expanding businesses in the state of North Dakota. The term of the loan will vary depending on the loan purpose with a maximum of 15 years.

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North Dakota Income Finance Equipment 40

Buisness Facilities Contributed Content

MARCH 8, 2016

New Venture Capital Fund: The New Venture Capital Program is an innovative financial program that provides flexible financing through debt and equity investments for new or expanding businesses in the state of North Dakota. The term of the loan will vary depending on the loan purpose with a maximum of 15 years.

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North Dakota Income Finance Equipment 40

Buisness Facilities Contributed Content

MARCH 21, 2014

Loan proceeds are to be used for working capital, inventory, equipment purchase, and real property improvements but cannot be used for refinancing of existing debt or outstanding debt payments. The private sector participant finances 50 percent of the project cost and takes a first lien on assets pledged as collateral.

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Income Finance Zoning Equipment 75

Buisness Facilities Contributed Content

MARCH 8, 2016

A JDA Real Estate Loan is normally a second mortgage loan, subordinate to a first-mortgage loan provided by a bank; M&E Loans are secured by a first lien, co-equal with the bank’s lien, on the M&E being financed. Debt refinancing, tax delinquency, employee benefit arrearage. Typical financing structure: 50% Bank Loan.

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New York Finance Products Commercial 40

Building Information Management

JULY 27, 2016

00 61 16 Lien Bond Form. Affidavit of Payment of Debts and Claims Form. Affidavit of Release of Liens Form. 00 61 16 Lien Bond Form. Affidavit of Payment of Debts and Claims Form. Affidavit of Release of Liens Form. Project Delivery. 00 54 00 Agreement Form Supplements. 00 54 21 Allowances Schedule.

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Equipment Construction Schedule Concrete 45

Building Information Management

JULY 27, 2016

00 61 16 Lien Bond Form. Affidavit of Payment of Debts and Claims Form. Affidavit of Release of Liens Form. 00 61 16 Lien Bond Form. Affidavit of Payment of Debts and Claims Form. Affidavit of Release of Liens Form. Project Delivery. 00 54 00 Agreement Form Supplements. 00 54 21 Allowances Schedule.

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Equipment Construction Schedule Concrete 40

NH Construction Law

NOVEMBER 23, 2019

As discussed in an earlier blog (#60), in order to “perfect” a mechanic’s lien in New Hampshire the lienor must institute court action for the purpose of getting an attachment order, Topjian Plumbing Heating, Inc. ” Our question is whether New Hampshire’s mechanic’s lien statute is such a law. .”

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Lien Bankruptcy New Hampshire Claims 40

NH Construction Law

OCTOBER 28, 2024

New Hampshire’s mechanic’s lien statute, RSA 447:2 , gives a lien to those who “perform labor, provide professional design services, or furnish materials” to improve someone’s real estate. The lien “provides security against the property owner for the value of the labor or materials rendered.”

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Lien Overhead Profitability New Hampshire 40