Do You Know Your Lien Rights?

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Signing lien waivers is customary in the construction industry, but are you aware of the protections you’re waiving and the potential consequences of nonpayment? Mechanic’s liens help contractors who supply labor or materials for construction work to be paid for the job performed. In most cases, the lien prevents the owner from selling or transferring the property until the payment is resolved. As an extra protection, the contractor may force the foreclosure of the property to satisfy payment. Thus, when waiving rights to mechanic’s liens, you waive the right to hold the property for possible future nonpayment. For owners, lien …read more

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