Foreclosing on a Mechanic’s Lien

Foreclosing on a mechanics lien is very much like foreclosing on a mortgage to your house. Once a mechanics lien is placed on a piece of real property, it's just like a mortgage. If you don't get paid, you're like the bank. You can foreclose on the lien. You bring the owner into the litigation, you bring the general contractor who hired you, and you foreclose on that through a court process and litigate it just as if it were a mortgage foreclosure. The encumbrance on that piece of real property acts just like a mortgage. I advise clients as a Business Lawyer that the person who owns that property can't transfer his interest, he can't borrow money, he can't refinance, and he can't get any advances on loans if it's a commercial property and they're trying to expand and do additional renovations to the property. It's a very serious weapon. It is a very heavy leveraged item that trade contractors and other tradesmen out there use to get paid when there's trouble on the job.

If you are thinking about foreclosing on a mechanic''s lien, contact our experienced Business Lawyer.

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