The Importance of The Illinois Mechanics Lien Act.
Many times a homeowner will want to make changes to their property. For one reason or another they will choose to hire a professional rather than to do the work themselves.
The is usually a good choice, however, doing business with an individual is not like doing business with a company. With an company you can check to see if there are complaints against them or if they do poor work. How do you know that you or your suppliers aren’t going to get taken advantage of by a homeowner? That’s where the importance of the Illinois Mechanics Lien Act comes in.
File a Mechanics Lien in the Rockford, IL
If you find yourself involved in private construction work you need to understand what a mechanics lien is and how it will help you get paid if the need arises for you to file a lien. Contractor’s Lien Advisors are experts on liens in the Rockford, IL area. We can help you understand what a lien is and how to file a lien that will protect your interests, whether you are a contractor, subcontractor or supplied the materials.
If you have a completed work for a property owner and they fail to pay you according to the agreement then you have cause to file a lien. When you file a mechanics lien properly it puts a lien on the property. A lien says that in the event the property is sold, you must be paid before the property owner. However, if the amount is large then the homeowner may be forced to sell the property to pay this debt.
This type of lien can be filed anytime a property owner fails to pay for services that you have completed for them. However, because it is a legal proceeding, they have made it so that there are requirements that must be completely followed in order for your lien to be legal and enforceable. Also, the requirements are different depending on whether you are the contractor, a subcontractor, or a supplier.
Education can go a long way to protecting yourself and your business. Make sure that you contact the professionals when you need the help. Using their expertise can strengthen, and perhaps even save your business.