News & Analysis as of

Liens Mortgages Contractors

Cole Schotz

Mortgage and Mechanics Lien Priorities and the Section 13 Trust Fund

Cole Schotz on

States struggle to strike the right balance between assuring payments to a contractor who improves real property and a lender whose financing helps make those improvements possible in the first place....more

Cole Schotz

Balancing Mortgage and Mechanics Lien Priorities in New York

Cole Schotz on

In an ideal world, the interests of contractor and lender involved in the same construction project are aligned: the project succeeds, and everyone is paid what they’re owed. But when the interests of contractor and lender...more

Ballard Spahr LLP

Developer May Not Extinguish Contractor’s Liens by Foreclosing on Its Own Mortgage, Florida Court Holds

Ballard Spahr LLP on

A Florida appellate court recently rejected a real estate developer’s creative effort to shed its property of contractor’s liens. The court applied the venerable principal of mortgage law that a borrower may not extinguish...more

Cohen Seglias Pallas Greenhall & Furman PC

New Changes to Pennsylvania Mechanics' Lien Law Take Effect

On July 9, 2014, Pennsylvania Governor Tom Corbett signed a bill (S.B. 145) into law that amends the Pennsylvania Mechanics’ Lien Law of 1963 (the “Lien Law”). The new law took effect on September 8, 2014 and affects...more

Snell & Wilmer

Arizona Supreme Court to Contractor: Sorry But Equitable Subrogation of a Bank’s Later Deed of Trust Trumps Earlier Mechanics’...

Snell & Wilmer on

The smoke has finally cleared in a hard and long-fought battle between a bank and contractor both claiming priority to foreclose millions of dollars on a Phoenix condominium project. The project, well-known as Summit at...more

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