If an owner files a Notice of Commencement, then all potential lien claimants that wish to preserve lien rights must file a Notice of Furnishing within 45 days after first supplying labor or material to the project. Owners of projects costing more than over one and a half million dollars ($1,500,000) have the option of filing a Notice of Commencement of construction. In addition, lien rights for new construction will also survive any foreclosure or sale of the property, except foreclosure on an acquisition loan or construction loan. Generally, the mechanic’s lien for new construction will have priority over all liens on the property, except an acquisition loan or construction loan. The mechanic’s lien has a high priority compared to many other liens on the property because it usually “relates back” to the time when work visibly commences. Pennsylvania has a fairly powerful mechanic’s lien statute. Right to Retain Funds from General Contractorĭistinctive Features of the Law in Pennsylvania.Stipulation against Liens by the General Contractor.Priority between Different Mechanic’s Liens. Priority over Construction Loans, Credit Line Mortgages and Open-End Mortgages.Contracts to Alter or Repair Existing Structures.Priority between Mechanic’s Liens and Other Liens.Description of Labor or Materials FurnishedĭEFENSE OF PAYMENT: OWNER’S RESPONSIBILITY FOR PAYMENT TO SUBCONTRACTORS.Description of the Improvement and Property.Multiple Contracts-Deadlines for Open Account SuppliersįORMAL NOTICE OF INTENT: ALL SUBCONTRACTORS.Supplying Additional Labor or Materials to Extend Time.Completion of Project and Claimant's Last Work.Practical Application and General Recommendations. NOTICE OF COMMENCEMENT & NOTICE OF FURNISHING Remote Subcontractor and Supplier Liens.Defense of Payment: Owner’s Responsibility for Payment to Subcontractors.Distinctive Features of the Law in Pennsylvania.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |