Description
Filing a lien can be a daunting task, ensure it is done correctly and avoid loss of lien rights.
New York has had a Mechanics Lien Law since the 19th Century. Over time, it has evolved somewhat, but is value as a tool for contractors is mixed. It provides a source of funds to pay contractors, but it comes with strict deadlines and other constraints. The NY Prompt Pay Act has supplemented the Lien Law and in certain circumstances is preferable to the Lien Law for contractor claims. This Program will provide a review of the basic current developments in the Lien Law, consider the pros and cons of lien foreclosure actions and the Prompt Pay Act, and assist potential parties in a lien situation on filing strategies, frustrating lienors, and defenses to lien claims.
Date: 2024-02-27 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives