On a Florida Notice of Commencement why is the start date so important? It has something to do with filing a lien but what exactly? If I file a lien shouldn't it be for work/material of the date is was done, which might be months after the start date. Thanks
One way an NOC can affect mechanics lien rights is that it will determine the priority of the debt secured by the mechanics lien if the property is foreclosed. When a Notice of Commencement is filed, the priority of all mechanics liens filed on the property will relate back to the date the NOC was filed. Meaning all claimants will have equal priority and the amount of individual claimants may be limited; as they all must share equal priority. If the owner fails to file, then the priority of mechanics lien is based on the date the lien was filed.