It is generally understood that materialmen, contractors, subcontractors and others (collectively called 'contractors') who perform labor or furnish materials on construction projects are entitled under state law to assert a mechanics' lien against real property for the value of the labor or materials they provide.
Lien Creation and Lien Perfection: What's the Difference?
It is generally understood that materialmen, contractors, subcontractors and others (collectively called 'contractors') who perform labor or furnish materials on construction projects are entitled under state law to assert a mechanics' lien against real property for the value of the labor or materials they provide. What is less clear is the effect of a bankruptcy petition that is filed before the contractor has taken the necessary steps to create or perfect its rights.
By
Adam L. Rosen And Lon J. SeidmanThis premium content is locked for The Bankruptcy Strategist subscribers only
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