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It's an old story: you've invested time and money into a project but still haven't been paid what you are due. Why wait any longer? There's good news out there for subcontractors, suppliers, and otherunpaid construction project participants: the mechanics lien.
Invented by Thomas Jefferson, the mechanics lien is designed to help you in these situations. Our guide demonstrates how and why to use a mechanics lien, including a review of the potential effects.
- Getting attention from lenders and owners
- Setting a firm deadline
- Making your debt a priority
- Locking up the property
- Helping position you in bankruptcy
- Getting attorney fees within reach
- Giving you leverage
- Causing contractual hurdles