Mechanics Liens in New York – How They Work and What You Need to Know

If a client has taken advantage of you as a contractor or subcontractor, you might wonder what you can do to get paid. A mechanics lien in New York is one of the best options. This article will describe the New York lien operation and the requirements for submitting one.

How do Mechanics Liens work?

Contractors, subcontractors, laborers, and suppliers can file mechanics liens against a property owner to ensure they are for the services rendered or materials delivered. This is especially relevant in New York. Mechanics liens are governed by state law, meaning the rules and procedures can vary from state to state.

In New York, you must file a mechanics lien within one year after the contractor or supplier last provided services or materials to the project. The lien must get recorded in the county where the property gets located and include a brief of the property, the name of the person who owns the property, the name of the person who filed the lien, and the amount owed.

Once a mechanics lien gets filed, the property owner will be notified and have an opportunity to dispute the claim. The supplier or contractor may then file a lawsuit to enforce the lien and compel the asset’s sale to pay the debt.

What did You need to Know?

New York lien is a powerful tool to help contractors and other professionals get paid. But, if you’re not familiar with how they work, they can also be a bit confusing.

What you need to know about mechanics liens in New York:

• Mechanics liens are a security interest in real property, meaning that if you don’t pay what you owe, the contractor can claim ownership of your property.
• To file a mechanics lien, the contractor must first send you a notice of their intent to do so. This allows you to pay what you owe and avoid placing a lien on your property.
• If a mechanics lien gets placed on your property, it will show up on the public record and can make it difficult to sell or refinance your home.
• You can contest a mechanics lien if you believe it’s filed in error, but it’s essential to act quickly. You may lose your right to contest the lien if you wait too long.

If you’re facing a New York lien, it’s essential to understand your rights and options. You can navigate the procedure and have your interests protected with the aid of an experienced lawyer.