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| Copyright The Law Office of Eric L. Crump, PLLC, 2007, All rights reserved THIS IS AN ADVERTISEMENT |
| THE LAW OFFICE OF ERIC L. CRUMP, PLLC ATTORNEY AND COUNSELOR AT LAW ____________________________________________________ |
| THIS IS AN ADVERTISEMENT |
| CAN MECHANICS LIENS PROTECT YOU FROM LOST INCOME? |
business for any significant length of time, you will get
stiffed on a bill. Unfortunately, not everyone has the
same view when it comes to timely paying outstanding
obligations, and sometimes a trusting concession on
your part can leave you with work done and nothing to
show for it. That doesn't mean that you have to accept
leaving empty-handed, however, because there are
certain statutory mechanisms that may be available to
you to help you get your money, even when recovery
seems unlikely and/or expensive.
Mechanics liens are statutory liens that attach to real
property to secure payment for work rendered on that
property by a "mechanic" (service provider, or
construction company) or "material man" (supplier of
goods installed in the property). Both Indiana and
Kentucky provide for means for unpaid material and
service providers to secure collection for their services
against the real property of the client who refuses to
pay.
The mechanics lien permits a service provider to attach
the obligation for payment of the outstanding debt to the
actual property itself, with preferred treatment. In most
cases, the priority of your lien will revert back to the date
when you first commenced work on the property. Once
your lien is in place, you can then foreclose on the
property to recover your funds and pay yourself from
the proceeds of the sale. Mechanics liens are an
invaluable tool for recovering funds from non-paying
property owners, and they provide a quick, cheap and
relatively simple means to assure a service provider that
they can and will receive value for their work or materials.
Because the mechanic lien holder is given preferential
treatment as to their obligation, the filing and notice
requirements laid out in state statutes are tightly
construed and strictly enforced. Time is of the essence
when it comes to filing this type of lien, with some states
even going so far as to require per-commencement
notices to be sent to owners or filed with the County
Clerk or Recorder before work even begins. Failure to
follow each specific requirement to the letter can often
times lead to the lien being declared void, along with the
preferential treatment enjoyed. Fortunately, with the
assistance of a professional familiar with the myriad of
simple but specific requirements, you can assure
yourself of payment when the work is complete, or at
least assure yourself of your ability to collect if payment
is refused.
Mechanics liens are ideal for construction professionals,
landscapers, plumbers, cabinet installers, window
installers, etc., however, numerous types of statutory
liens have been created under both Indiana and
Kentucky law that provide the same or similar benefits to
other service providers as well. Each of these liens can
be useful to a business owner who doesn't want to walk
away from a job well done empty-handed.
If you feel that you could benefit from the use of
statutory liens in your business, please call the Law
Office of Eric L. Crump, PLLC, for a consultation today.
We'd love to see how these tools can be put to use for
your specific needs.
stiffed on a bill. Unfortunately, not everyone has the
same view when it comes to timely paying outstanding
obligations, and sometimes a trusting concession on
your part can leave you with work done and nothing to
show for it. That doesn't mean that you have to accept
leaving empty-handed, however, because there are
certain statutory mechanisms that may be available to
you to help you get your money, even when recovery
seems unlikely and/or expensive.
Mechanics liens are statutory liens that attach to real
property to secure payment for work rendered on that
property by a "mechanic" (service provider, or
construction company) or "material man" (supplier of
goods installed in the property). Both Indiana and
Kentucky provide for means for unpaid material and
service providers to secure collection for their services
against the real property of the client who refuses to
pay.
The mechanics lien permits a service provider to attach
the obligation for payment of the outstanding debt to the
actual property itself, with preferred treatment. In most
cases, the priority of your lien will revert back to the date
when you first commenced work on the property. Once
your lien is in place, you can then foreclose on the
property to recover your funds and pay yourself from
the proceeds of the sale. Mechanics liens are an
invaluable tool for recovering funds from non-paying
property owners, and they provide a quick, cheap and
relatively simple means to assure a service provider that
they can and will receive value for their work or materials.
Because the mechanic lien holder is given preferential
treatment as to their obligation, the filing and notice
requirements laid out in state statutes are tightly
construed and strictly enforced. Time is of the essence
when it comes to filing this type of lien, with some states
even going so far as to require per-commencement
notices to be sent to owners or filed with the County
Clerk or Recorder before work even begins. Failure to
follow each specific requirement to the letter can often
times lead to the lien being declared void, along with the
preferential treatment enjoyed. Fortunately, with the
assistance of a professional familiar with the myriad of
simple but specific requirements, you can assure
yourself of payment when the work is complete, or at
least assure yourself of your ability to collect if payment
is refused.
Mechanics liens are ideal for construction professionals,
landscapers, plumbers, cabinet installers, window
installers, etc., however, numerous types of statutory
liens have been created under both Indiana and
Kentucky law that provide the same or similar benefits to
other service providers as well. Each of these liens can
be useful to a business owner who doesn't want to walk
away from a job well done empty-handed.
If you feel that you could benefit from the use of
statutory liens in your business, please call the Law
Office of Eric L. Crump, PLLC, for a consultation today.
We'd love to see how these tools can be put to use for
your specific needs.
| 620 South Third Street, Louisville, Kentucky 40202 Phone: (502) 540-9958; Fax: (502) 540-9957 email: contact@crumplawoffice.com |