News & Analysis as of

Mechanics Lien Mortgages

Mortgage Loan Modifications – What is the Risk of Loss of Lien Priority?

Lenders and borrowers often enter into loan modification agreements to change the terms of a mortgage loan. Perhaps the most common modification arises when the borrower is experiencing difficulty repaying the loan according...more

Law Enforcement Thwarts Sovereign Freeman

by Carlton Fields on

Copyrighting their names, “signing” with red thumbprints – we’ve seen some unusual court filings from unique individuals. But one person has apparently gone too far. It can be incredibly frustrating for a lender when a...more

Equitable Subrogation Part Deux: Mechanic’s Lien vs. Later Bank Deed of Trust

by Snell & Wilmer on

This post follows, almost two years to the day, Rick Erickson’s post of August 29, 2014. As noted by Rick Erickson in his August 29, 2014 post, the Arizona Supreme Court in the Weitz case (2014) had determined that equitable...more

Appellate Court Notes

by Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: SC19496 - Commission on Human Rights & Opportunities v. Echo Hose Ambulance - The issue of this case was whether or not an unpaid volunteer, in this case for an ambulance...more

Construction Financing and Mechanics’ Liens in Connecticut

by Murtha Cullina on

Bankers and other professionals who have worked on construction loans in states other than Connecticut will know how much of a pain it can be to make construction loan advances. You usually need to perform a title update and...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 4, 2015

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: party whose motion to intervene in foreclosure action was denied did not have standing to appeal final judgment of foreclosure – Market Tampa Investments, LLC. V Stobaugh,...more

Title Insurance: When Does a Construction Lender “Create” or “Suffer” a Mechanics Lien?

by Pepper Hamilton LLP on

BB Syndication Services, Inc. v. First American Title Ins. Co., 785 F.3d 825 (7th Cir. 2015) – A construction lender sued a title insurance company seeking defense and indemnification in connection with claims in a...more

Act 117 Brings Significant Changes to Mechanic’s Lien Law

by Barley Snyder on

Over the summer, Governor Corbett signed into law Act 117 of 2014 (the “Act”), which brings two significant changes for contractors to the Mechanic’s Lien Law of 1963. First, subcontractors are now prevented from filing...more

Mechanics Lien Subordination: Illinois Further Limits Construction Lenders’ Ability To Ensure Priority Against Mechanics Liens

On July 16, 2014, Illinois enacted Public Act 98-764 (Senate Bill 3023) (“SB 3023”), which amends the Illinois Mechanics Lien Act (770 ILCS 60/ et seq.) (the “Act”) to prohibit subordination of mechanics liens on Illinois...more

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

by 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

Changes Made to the Pennsylvania Mechanics’ Lien Law to Protect Holders of Open-End Mortgages and Residential Property Owners

by K&L Gates LLP on

Mechanics’ liens grant contractors and subcontractors an interest in improvements made to real property to secure the payment obligations of owners to contractors, and of contractors to subcontractors. While these liens...more

Mortgage Lenders Can’t Jump Ahead of Mechanic’s Liens

by Snell & Wilmer on

In Weitz Co., LLC v. Heth, 223 Ariz. 442, 314 P.3d 569 (Ct. App. Nov. 26 2013), the Arizona Court of Appeals held that the plain language of Arizona’s mechanic lien statute, A.R.S. § 33-992(A), does not allow a lender to jump...more

Under Construction - December 2013

by Snell & Wilmer on

Welcome to our final issue of Under Construction in 2013. We hope your year has been filled with health, happiness, peace and prosperity. We thank you for your readership, and we continue to appreciate the opportunities we...more

Changes of Note to Lenders From the 2013 Legislative Long Session

by Poyner Spruill LLP on

During the 2013 legislative session, several new laws were passed which directly affect the banking and financial services industries. While most of these changes are relatively minor, they are certainly worth noting. Below...more

North Carolina Legislature Uncovers "Hidden Liens"

by Womble Bond Dickinson on

Executive Summary: North Carolina implements “lien agent” law for construction projects. The North Carolina General Assembly recently enacted significant changes to North Carolina's mechanics lien laws. These changes...more

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