On May 7th it will be 6 month since the last working day on the property I placed a lien on.
What is happening if I don’t foreclosure on that lien, should I do a small claim instead?
3 replies
Apr 30, 2021
It depends on the amount of the lien. If this is small, meaning $7500 or less, the cost, complexity, and expense of a district court foreclosure lawsuit is likely too much of a burden. However, this is up to you. Foreclosure suits require very specific title work and service and are very complex and not a DIY project.
Reach out to a construction attorney for a consultation.
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Apr 30, 2021
Thank you.
The lien is 4000 dollars
So it will be a better choice to do a small claim court?
Does the lien stays on the property indefinitely?
If I don’t foreclose on it will the lien stay on the property title?
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Apr 30, 2021
My pleasure. No attorney can provide legal advice if it is better to pursue small claims because that depends on many more facts. However, plain and simple, a foreclosure suit is complicated, time consuming, and expensive. Much more so than small claims. Of course, if you get a judgment in small claims you must try to collect while in a foreclosure suit the judgment, if any, is secured. No, the lien is not indefinite and does not affect title forever. A mechanics’ lien can only hold property for a year except under certain circumstances and by certain filings. CRS § 38-22-109(8).