"Liens shall be dissolved unless the contractor, subcontractor, or some person claiming by, through or under them, shall, not later than the earliest of: (i) ninety days after the filing or recording of the notice of substantial completion under section two A; (ii) one hundred and twenty days after the filing or recording of the notice of termination under section two B; or (iii) one hundred and twenty days after the last day a person, entitled to enforce a lien under section two or anyone claiming by, through or under him, performed or furnished labor or material or both labor and materials or furnished rental equipment, appliances or tools, file or record in the registry of deeds in the county or district where the land lies a statement, giving a just and true account of the amount due or to become due him, with all just credits..." Mass. Gen. Laws Ann. ch. 254 §8.
The Cambridge Massachusetts Statement of Lien by Corporation or LLC is an important legal document that holds relevance in various business transactions and financial matters. A statement of lien generally signifies a legal claim or encumbrance placed on a property or asset by a creditor to secure an outstanding debt owed to them. In Cambridge, Massachusetts, corporations or limited liability companies (LCS) can assert their right to a lien through this specific legal process. When a corporation or LLC files a Statement of Lien in Cambridge, Massachusetts, it serves as a public record officially documenting their claim over a debtor's property or assets. This filing is typically done with the Cambridge County Clerk's Office or the appropriate registry of deeds, ensuring the public and interested parties are aware of the lien's existence. This legal tool acts as a safeguard for the creditor, as it prevents the debtor from selling or transferring the encumbered property without addressing the outstanding debt. There are several types of Cambridge Massachusetts Statement of Lien that can be filed by a corporation or LLC: 1. Real Estate Lien: This type of lien is placed on real property such as land, buildings, or any other immovable assets owned by the debtor. By filing a Statement of Lien, a corporation or LLC secures its right to satisfy the unpaid debt through the sale of the property if the debtor fails to fulfill their financial obligations. 2. Personal Property Lien: This type of lien applies to movable assets like vehicles, machinery, equipment, or any valuable personal property owned by the debtor. By filing a Statement of Lien, the corporation or LLC ensures its ability to seize and sell these assets to recover the outstanding debt if necessary. 3. Mechanic's Lien: This specific type of lien relates to construction projects and is filed by contractors, subcontractors, or suppliers to secure payment for work performed or materials provided. A corporation or LLC involved in the construction industry can assert its right to a mechanic's lien through a Statement of Lien, protecting their financial interests and ensuring recourse if the debtor fails to pay. It is essential for corporations and LCS to understand the intricacies of the Cambridge Massachusetts Statement of Lien regulations and procedures to effectively protect their financial interests. By filing the appropriate Statement of Lien, they can enforce their right to recover outstanding debts and prevent potential fraudulent activities related to their claims. Compliance with the necessary filing requirements guarantees that their liens are legally recognized and duly noted in public records, strengthening their position as creditors in the event of non-payment.The Cambridge Massachusetts Statement of Lien by Corporation or LLC is an important legal document that holds relevance in various business transactions and financial matters. A statement of lien generally signifies a legal claim or encumbrance placed on a property or asset by a creditor to secure an outstanding debt owed to them. In Cambridge, Massachusetts, corporations or limited liability companies (LCS) can assert their right to a lien through this specific legal process. When a corporation or LLC files a Statement of Lien in Cambridge, Massachusetts, it serves as a public record officially documenting their claim over a debtor's property or assets. This filing is typically done with the Cambridge County Clerk's Office or the appropriate registry of deeds, ensuring the public and interested parties are aware of the lien's existence. This legal tool acts as a safeguard for the creditor, as it prevents the debtor from selling or transferring the encumbered property without addressing the outstanding debt. There are several types of Cambridge Massachusetts Statement of Lien that can be filed by a corporation or LLC: 1. Real Estate Lien: This type of lien is placed on real property such as land, buildings, or any other immovable assets owned by the debtor. By filing a Statement of Lien, a corporation or LLC secures its right to satisfy the unpaid debt through the sale of the property if the debtor fails to fulfill their financial obligations. 2. Personal Property Lien: This type of lien applies to movable assets like vehicles, machinery, equipment, or any valuable personal property owned by the debtor. By filing a Statement of Lien, the corporation or LLC ensures its ability to seize and sell these assets to recover the outstanding debt if necessary. 3. Mechanic's Lien: This specific type of lien relates to construction projects and is filed by contractors, subcontractors, or suppliers to secure payment for work performed or materials provided. A corporation or LLC involved in the construction industry can assert its right to a mechanic's lien through a Statement of Lien, protecting their financial interests and ensuring recourse if the debtor fails to pay. It is essential for corporations and LCS to understand the intricacies of the Cambridge Massachusetts Statement of Lien regulations and procedures to effectively protect their financial interests. By filing the appropriate Statement of Lien, they can enforce their right to recover outstanding debts and prevent potential fraudulent activities related to their claims. Compliance with the necessary filing requirements guarantees that their liens are legally recognized and duly noted in public records, strengthening their position as creditors in the event of non-payment.
