MECHANIC'S LIEN RIGHTS IN VIRGINIA, MARYLAND, WASHINGTON DC & PENNSYLVANIA
Contractors and suppliers in the construction industry have the advantage of secured creditor status for most of their sales, as long as these mechanic's lien rights are carefully preserved. Even minor failure to follow the rules will leave you unsecured. Successfully preserving your rights will establish your priority over other innocent creditors of the insolvent customer.
What is a Mechanic's Lien? Why are Mechanic's Lien security rights so important in the collection of Construction industry accounts?
Virginia Residential projects have a "prefiling" requirement before delivery of goods. All states require some action shortly after delivery. How do you determine and track your deadlines? What information do you need to collect to know whether you will be secured? How do you know when your work is complete? How do you "trace" your materials to a particular property and allocate the amount of each lien? Does it matter whether your customer has been paid on the project? What is the priority of your claim compared to other creditors? What if your customer files bankruptcy or the property is sold?
All attendees will receive a copy of Mr. Fullerton's book, Construction Law Survival Manual.
James D. Fullerton, President, Fullerton & Knowles, P.C. - Mr. Fullerton is a Martindale Hubbell Peer Rated Lawyer AV" Preeminent.'" Jim represents owners, lenders, design professionals, suppliers, subcontractors, general contractors and other members of the real estate and construction industries region-wide. He advises on all real estate and construction law issues; public procurement and bidding, contract formation and disputes; defects in labor and materials; design defects in plans and specifications; inefficiency, impact and delay claims; mechanic's lien and bond rights; litigation, arbitration and mediation in public and private projects; joint ventures, mentor protegee agreements and other arrangements for minority and disadvantaged business enterprises; bank and lender representation; commercial transactions and loan closings; sales contracts and leases.
Mr. Fullerton is also a master brick mason, a licensed real estate broker and the owner of Summit Real Estate. He is Counsel to Board of Directors, Virginia Precast Concrete Association; and is Counsel to Board of Directors, Central Atlantic Precast Concrete Association. He graduated from the University of Colorado and the University of Virginia School of Law.
Wednesday, October 12, 2022
2:00PM - 5:00PM
ABC-VA Northern Virginia Training Facility
42680 Trade West Drive, Dulles, VA 20166
Contact Amy Faris, [email protected]