What is the purpose of an Expiration date of a Mechanic's lien?

2 months ago

If we do not take action to foreclose at the end of the 90 day period after our Mechanic’s lien was filed…
a) does the lien remain on the property?
b) do we still have a right to our funds at the time the property is sold?
and IF so..
c) What is the purpose of the expiration date?

Thank you for your help.

Managing Partner Gibbs Giden LLP

Hello,

To answer your questions:

(1) Yes, lien remains on the property;

(2) No, you do not have right to funds when the property is sold; in fact, the owner can file a Petition to Remove the Mechanics Lien and seek recovery of its attorney’s fees and costs against you;

(3) N/A

 

–CN

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