John I. Mabe – March 13, 2013 The rules are changing when it comes to North Carolina lien and bond laws. And, the new provisions are substantially altering the way in which all parties involved in lien rights – from owners, buyers, and sellers to general contractors, subcontractors, lenders, and title companies – handle construction,… Continue reading Changes Taking Effect to North Carolina Lien and Bond Laws
Tag: Mechanics Lien Law
What the New “Lien Agent” Laws Mean for General Contractors
David C. Kimball – March 12, 2013 Most people in the construction industry are generally aware of the new requirements that were recently enacted to require project stakeholders to file certain paperwork with so-called “lien agents.” Lien agents are supposed to serve as a clearinghouse for lien documentation and create a more comprehensive strategy of… Continue reading What the New “Lien Agent” Laws Mean for General Contractors
Mechanics’ Lien Law Changes for Subcontractors
Parker Poe – November 29, 2012 Substantial changes to North Carolina’s mechanics’ lien and bond laws are slated for 2013. These changes include: Curtailing a contractor’s ability to waive the lien rights of its subcontractors Requiring service of a “Contractor’s Project Statement” and “Notice of Public Subcontract” on bonded public projects Establishing a new lien… Continue reading Mechanics’ Lien Law Changes for Subcontractors
Nevada Supreme Court Clarifies Lender v. Mechanics’ Lien Priority Disputes
Leon F. Mead II, Laura Ellen Browning & Alison Tahsima – November 13, 2012 On October 25, 2012, the Nevada Supreme Court, in a case of first impression, held that equitable subrogation cannot be used as a method to repair broken priority over mechanics’ liens, but left the door open to the potential for a… Continue reading Nevada Supreme Court Clarifies Lender v. Mechanics’ Lien Priority Disputes
Construction Lien Payments: Trust Funds Or Not?
Vicki Harding – November 5, 2012 The trustee of a liquidating trust under a general contractor’s confirmed chapter 11 plan tried to recover pre-petition payments made to a subcontractor as either a preference or a fraudulent conveyance. The court’s decision turned on whether the payments were trust funds under the Illinois Mechanics Lien Act. On February 11,… Continue reading Construction Lien Payments: Trust Funds Or Not?