Define Fillable Fields In Legal New York Construction Liens Forms For Free

A contractor's lien (often known as a mechanic's lien, or a construction lien) is a claim made by contractors or subcontractors who have performed work on a property, and have not yet been paid.

New York prohibits the waiving of lien rights prior to performance. Furthermore, waivers cannot be made in advance of payment, but only with, or after, payment. New York has no requirement that a lien waiver must be notarized. Furthermore, electronic signatures are valid on all lien waivers.

Pursuant to New York Lien Law Article 3-A, all funds received by a contractor for a construction project, or by an owner under a construction loan, constitute assets of a statutory trust. The recipient, as trustee must apply the funds to the costs of improvement before diverting them to any other purpose.

An original judgment lien is valid for 10 years. If the judgment isn't paid by the end of the first 10 years, then the judgment creditor can seek a renewal judgment on the lien that would be valid for another 10 years.

To file a notice of lien, you must complete the Public Improvement Lien Form. You must also sign and notarize both the Lien Form and the Affidavit of Service. You can submit everything to DOF by mail or in person. Learn more about the Manhattan Business Center.

A mechanic's lien can be filed during the course of a construction project when payment becomes due, or it can be filed after the project is completed. However, it must be filed no later than 8 months from the last day that the party asserting the lien (the lienor) performed work or furnished materials for the project.