When a property subject to only a mechanics lien is sold at a sheriff's sale, the law grants an owner six months after the sale to redeem. Note this when drafting final orders in a foreclosure case.
Crafting a valid, error-free claim for lien for your contractor clients requires more than just reading the Mechanics Lien Act. Here are tips based on the statute and the cases interpreting it.
An attempt to legislatively overturn a recent supreme court ruling is pitting developers against bankers over whose claims have priority in foreclosure sales.
The Mechanics Lien Act gives contractors priority over mortgagees to the extent their work "enhanced" the property's value, giving them another chance to recover when mortgaged real estate sells. This article looks at the legal and practical difficulties in proving enhancement.
On October 9, 2008, the Illinois Appellate Court, First District, affirmed the judgment of the Circuit Court of Cook County dismissing Count I of the plaintiff's complaint.
On September 22, 2005, the Illinois Appellate Court, First District, affirmed the decision of the Circuit Court of Cook County granting defendant-owner and contractor's motion for partial summary judgment limiting the amount of the plaintiff's recovery on its mechanic's lien.