Wednesday, May 13, 2009

Mechanics Lien Cheat Sheet

GENERAL CONTRACTOR:

Lien: A verified claim for mechanics lien must be recorded within 4 months of last providing work.

Foreclosure: An action to foreclose a mechanics lien must be filed (and a lis pendens recorded) within two years of last providing work, or within 30 days after a demand to commence the suit pursuant to 770 ILCS 60/34.

SUBCONTRACTOR/MATERIAL SUPPLIER:

Homeowners Notice: Subcontractors supplying services or materials to a single family, owner-occupied residence must notify the occupants that it is supplying services or materials within 60 days from the date of first supplying services or materials.

Notice of Claim: Subcontractors must serve a written notice of the claim on the owner and the lender within 90 days of last performing work or delivering materials.

Lien: A verified claim for mechanics lien must be recorded 4 months of last performing work or delivering materials.

Foreclosure: An action to foreclose a mechanics lien must be filed (and a lis pendens recorded) within two years of last providing work, or within 30 days after a demand to commence the suit pursuant to 770 ILCS 60/34.

2 comments:

Peter C. Bastianen said...
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Michael W. Huseman said...
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