Event: Dealing with Mechanics Liens in Difficult Times

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Mechanics Liens: A Rising Concern

In the current economy, the probability of having a mechanics lien placed on real property is rising. Many companies are “pulling the plug” on new construction projects and facing payment problems for work on completed projects. These issues can lead to disputes about what may be owed to contractors, who turn to mechanics liens and lawsuits in order to seek payment.

These lawsuits can be very costly and time-consuming if not handled correctly.

FACT: Since 2008, over 21% of mechanics lien litigation in the U.S. occurred in Illinois.

Here is a “Road Map” for Handling Liens

Ungaretti & Harris LLP is offering a live presentation to help lenders, property owners, and management companies understand how to address mechanics liens and limit their costs. Attendees will come away from this event with pragmatic ideas for avoiding mechanics liens as well as action steps they should take once a lien is placed on a property.

FACT: Even if you have paid your contractor in full, it is possible to have a lien placed on your property.

Why This Program Is For You

If you already have a mechanics lien on your property, you already know how time-consuming and expensive the problem can be.This seminar will give you specific steps for getting the lien removed and controlling costs.

If you don’t have a lien on your property, this seminar will give you two big advantages. First, you’ll learn how to significantly reduce the likelihood of having a lien placed on your property. Second, you’ll be well-prepared in the event you do face a mechanics lien.

Topics will include:

• Understanding what a mechanics lien is and what implications it may have;
• Effective defenses against mechanics lien claims;
• Strategic responses to lien filings or threat of lien filings;
• Understanding and preparing for notice requirements;
• The effect of a subcontractor being listed on a contractor’s statement; and
• The effect of mortgages.

Don’t Miss This Money-Saving Event:

A mechanics lien not only costs money and eats valuable time, but can also affect your ability to refinance a loan, borrow money, or sell/lease a property. This lunchtime briefing will give you the knowledge you need to significantly reduce your exposure to liens and their associated costs.