Joel Solomon | Foley & Lardner LLP | March 26, 2015 The 7th Circuit has ruled that a lender is not insured by a title company for liens that arise after a construction loan became significantly out of balance and the lender stopped funding. In BB Syndication Services, Inc v. First American Title Insurance Company, decided… Continue reading 7th Circuit Rules That Title Insurer Is Not Liable for Construction Liens Resulting From Lender’s Failure to Fund
Tag: Mechanics Lien Law
They Can’t Take That Away From Me. Well, At Least Not At First.
Neil S. Talegaonkar, Esq. | ThompsonMcMullan | March 18, 2015 Some of you may recall the George and Ira Gershwin song, They Can’t Take That Away From Me made famous by Fred Astaire and Ginger Rogers in the film, Shall We Dance. A recent amendment to a mechanic’s lien statute will limit general contractors’ ability to… Continue reading They Can’t Take That Away From Me. Well, At Least Not At First.
The Danger of Settling Disputes: Novation
John Paul Nefflen | Burr & Forman LLP | February 25, 2015 Resolving business disputes before filing a lawsuit is efficient, cost effective – and sometimes dangerous. At least that’s what an architect learned when he tried to settle a pay dispute with the owner of a luxury condominium development. His efforts nearly cost him… Continue reading The Danger of Settling Disputes: Novation
Utah Clarifies Lien Amounts and Bonding Requirements
A Cautionary Tale for General Contractors
Hopkins & Carley | November 25, 2014 Construction lenders often go to great lengths to ensure their deeds of trust have priority over mechanic’s liens. Typically, as part of the construction loan process, general contractors are asked to sign documents consenting to the owner’s assignment of the construction contract to the lender. According to a… Continue reading A Cautionary Tale for General Contractors