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Does a construction lien accrue interest until it is satisfied

New YorkLien Waivers

Want to know if a construction lien accrue interest until it is satisfied

2 replies

Jun 16, 2021
Yes. In NY, you are entitled to 9% interest per year.
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Jun 16, 2021
The underlying amount owed accrues interest at 9% per annum, but that is only collected upon securing a judgment from a Court. The lien itself does not accrue interest.
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