Every person claiming a lien created under ORS 87.010 (1) or (2) shall perfect the lien no later than 75 days after the person has ceased to provide labor, rent equipment or furnish materials or 75 days after completion of construction, whichever is earlier. Every other person claiming a lien created under ORS 87.010 shall perfect the lien not later than 75 days after the completion of construction. All liens claimed shall be perfected as provided by subsections (2) to (4) of this section. A lien created under ORS 87.010 shall be perfected by filing a claim of lien with the recording officer of the county or counties in which the improvement, or some part thereof, is situated.
Gresham, Oregon Claim of Lien by Corporation or LLC: A Detailed Description In Gresham, Oregon, a Claim of Lien by Corporation or LLC refers to a legal mechanism that allows a corporation or limited liability company to assert its right to secure payment for services rendered or materials provided in relation to a construction project or property improvement. This claim provides a strong legal recourse for businesses to protect their interests and encourage timely compensation. There are several types of Claim of Liens that can be filed by a Corporation or LLC in Gresham, Oregon, including: 1. Mechanic's Lien: A Mechanic's Lien is a claim filed by a contractor, subcontractor, or supplier who provides labor, materials, or services for a construction project. This lien attaches to the property itself and serves as a security interest, preventing the property's transfer or sale until the outstanding debt is satisfied. 2. Material Supplier Lien: Material suppliers, who provide construction-related materials to a project but are not directly involved in the labor aspect, can file a Material Supplier Lien. This type of lien ensures that the supplier can be compensated for the provided materials, even if the contractor or property owner defaults on payment. 3. Stop Notice: A Stop Notice is a claim placed by a corporation or LLC on the funds owed by the property owner to the general contractor. This notice alerts the owner or the lender that the contractor has outstanding debts to the claimant and requests that the funds be withheld until the matter is resolved. 4. Equipment Lien: An Equipment Lien is applicable when a corporation or LLC provides equipment, machinery, or tools for a construction project. This lien secures payment for the rent or purchase of the equipment used, ensuring the claimant isn't left unpaid. To initiate any of these types of liens, the claiming corporation or LLC must follow a specific process dictated by the Oregon Construction Lien Law. The process involves preparing and recording a detailed Claim of Lien document with the county recorder's office where the property is located. This document outlines the nature of the services, materials, or equipment provided, along with the claimed amount and a description of the property. Once the Claim of Lien is recorded, it creates a cloud on the property's title, prompting the property owner, contractors, lenders, and other parties involved to address the outstanding debt or dispute. Failure to resolve the issue or satisfy the lien could eventually lead to a foreclosure action, allowing the claiming corporation or LLC to recover its debt through the sale of the property. In summary, a Claim of Lien by Corporation or LLC in Gresham, Oregon, empowers businesses to protect their financial interests when involved in construction projects. By adhering to the specific requirements and following the legal process, corporations and LCS can secure their right to payment and ensure their contribution is duly recognized and compensated.Gresham, Oregon Claim of Lien by Corporation or LLC: A Detailed Description In Gresham, Oregon, a Claim of Lien by Corporation or LLC refers to a legal mechanism that allows a corporation or limited liability company to assert its right to secure payment for services rendered or materials provided in relation to a construction project or property improvement. This claim provides a strong legal recourse for businesses to protect their interests and encourage timely compensation. There are several types of Claim of Liens that can be filed by a Corporation or LLC in Gresham, Oregon, including: 1. Mechanic's Lien: A Mechanic's Lien is a claim filed by a contractor, subcontractor, or supplier who provides labor, materials, or services for a construction project. This lien attaches to the property itself and serves as a security interest, preventing the property's transfer or sale until the outstanding debt is satisfied. 2. Material Supplier Lien: Material suppliers, who provide construction-related materials to a project but are not directly involved in the labor aspect, can file a Material Supplier Lien. This type of lien ensures that the supplier can be compensated for the provided materials, even if the contractor or property owner defaults on payment. 3. Stop Notice: A Stop Notice is a claim placed by a corporation or LLC on the funds owed by the property owner to the general contractor. This notice alerts the owner or the lender that the contractor has outstanding debts to the claimant and requests that the funds be withheld until the matter is resolved. 4. Equipment Lien: An Equipment Lien is applicable when a corporation or LLC provides equipment, machinery, or tools for a construction project. This lien secures payment for the rent or purchase of the equipment used, ensuring the claimant isn't left unpaid. To initiate any of these types of liens, the claiming corporation or LLC must follow a specific process dictated by the Oregon Construction Lien Law. The process involves preparing and recording a detailed Claim of Lien document with the county recorder's office where the property is located. This document outlines the nature of the services, materials, or equipment provided, along with the claimed amount and a description of the property. Once the Claim of Lien is recorded, it creates a cloud on the property's title, prompting the property owner, contractors, lenders, and other parties involved to address the outstanding debt or dispute. Failure to resolve the issue or satisfy the lien could eventually lead to a foreclosure action, allowing the claiming corporation or LLC to recover its debt through the sale of the property. In summary, a Claim of Lien by Corporation or LLC in Gresham, Oregon, empowers businesses to protect their financial interests when involved in construction projects. By adhering to the specific requirements and following the legal process, corporations and LCS can secure their right to payment and ensure their contribution is duly recognized and compensated.
