An action to enforce a mechanic's lien on real property is commonly known as an action to foreclose a mechanic's lien. Enforcement of this statutory lien by foreclosure provides a method by which one who has added value to real property, due to construction or improvements, may compel payment for the benefit conferred and received. The following form is a complaint that adopts the notice pleadings format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Illinois Complaint or Petition to Foreclose on Mechanic's Lien
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FAQ
In addition, a mechanic's lien may take priority over the mortgage to the extent the labor or materials supplied by the lienholder enhance the value of the property beyond the value of the property at the time the mortgage was recorded.
On What Grounds Can Mechanics Liens Be Defeated? Sworn statements and lien waivers. Description of the property owner. Incorrect contract description. Incorrect lien claim amounts. Allocation and apportionment. Lienable improvements. Abandoned projects. Landlord-Tenant issues.
To be entitled to any recovery under the Private Lien Act, the General Contractor must file its Mechanics Lien and bring a suit to foreclose within two (2) years of the completion of the project (?Completion Date?).
After you file Illinois mechanics liens are valid for 2 years after filing. This means that, unless you extend the lien, you have 2 years to enforce your lien. Another option is to present the owner with a Notice of Intent to Foreclose if you wish to avoid the complex foreclosure procedures.
A judgment is not a lien on real estate for longer than 7 years from the time it is entered or revived, unless the judgment is revived within 7 years after its entry or last revival and a new memorandum of judgment is recorded prior to the judgment and its recorded memorandum of judgment becoming dormant.
A mechanics lien can be recorded after 4 months and within 2 years of the last date of work but it will only be good against the original owner. Furthermore, subcontractors, those that are hired by a general contractor, must submit notice of their lien claim within 90 days of their last date of furnishing.
The deadline for contractors and subcontractors to file their statement of mechanic's lien is four months (not 120 days) from the last date of work (exclusive of warranty work or other work performed free of charge), or from the last date that materials were supplied to the project.
On What Grounds Can Mechanics Liens Be Defeated? Sworn statements and lien waivers. Description of the property owner. Incorrect contract description. Incorrect lien claim amounts. Allocation and apportionment. Lienable improvements. Abandoned projects. Landlord-Tenant issues.