Lien Claimants: Did Release Add New Value?

Law360, New York (September 18, 2007, 12:00 AM EDT) -- In the construction field, subcontractors who provide services and/or products for a construction project often retain a lien against the project owner's property for the materials and services provided until paid in full by the general contractor or property owner.

Depending on the state, the lien is effective immediately or may require an act on the part of the subcontractor, such as the filing of a notice of lien within a prescribed statutory time period. Routinely, the subcontractor will be paid by the general contractor and...
To view the full article, register now.