Can You Get Paid Without Foreclosing on Your New York Mechanics Lien?

Because you supplied goods or worked on property in New York and didn’t get paid, you were able to take advantage of New York’s lien law and file a mechanics lien.

By doing so you were able to put the world on notice that you have a claim as it relates to monies owed for goods supplied or work done on the underlying property.

You thought the only chance to get paid was to enforce your rights as it relates to the underlying property. Placing the lien didn’t get the attention you had hoped and enforcement of a lien is not always practical.

For one or more reasons, you have decided not to foreclose on your New York Mechanics Lien.

Are you now forced to abandon any hopes of getting paid on the receivable or can you get paid without foreclosing on your New York Mechanic’s lien?

Don’t give up!!  The good news is that often you have another way to get paid. The relief comes in the form of looking to collect from the party that brought you in to do the work. The party could be the owner of the property, an agent (i.e. a managing agent), a contractor, subcontractor or other.

The mere filing of a mechanics lien (and continuing the lien as long as you can before it expires) does not prohibit you from seeking other relief. Often merely out of financial concerns our clients will choose not to foreclose on the lien but to start a civil suit against the party that hired them to do the work. So yes, in many situations you can get paid without foreclosing on your New York Mechanics lien.

Interested in the most economical way to get paid? Give us a call and we can discuss the options available. Contact Jocelyn Nager: jnager@ffgnesqs.com, 212-686-0100 for a free consultation.

 

 

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