Lien Foreclosure

Lien Foreclosure

Posted in Lien Foreclosure

The only way to foreclose on a mechanics lien is through a lawsuit filed in Superior Court, and Vukelja Law is the perfect legal resource. It cannot be enforced in arbitration, nor can it be enforced in Small Claims Court. The contractor may be able to file the lawsuit himself, but if the contractor is a corporation, limited partnership, or limited liability company, then the law requires that the foreclosure lawsuit be filed by an attorney. If an owner desires to sell or refinance property that is subject to a valid mechanics lien, the owner can “bond around” the lien by posting cash or a bond for 150% of the face amount of the lien. The bond remains in place to satisfy the lien. Many lien claimants are unaware of the technical requirements regarding the time periods in which to record the lien. We can supply all the specific information you need, contact Vukelja Law today.