DGAA bLAWg

What Is a Mechanic’s Lien?

Web Admin - Wednesday, March 21, 2018
Inverness real estate lien attorneyIn any real estate transaction, there are a variety of legal issues that can arise that will affect the parties’ ability to complete the sale. If there are any encumbrances on the property, they will restrict the owner’s ability to transfer the title. Mechanic’s liens are one type of encumbrance that people may not be aware of, and property owners should be sure to understand how these liens can affect them.

Mechanic’s Liens in Illinois

A mechanic’s lien can be placed on a property by a contractor, subcontractor, or supplier if they were not paid for improvements which were made to the property. This could occur because a contractor was not fully paid for the work they did or because a contractor failed to pay a subcontractor or supplier. A mechanic’s lien is a cloud on title that must be resolved before the property can be sold or refinanced.

In Illinois, a contractor must file a mechanic’s lien within four months after the work was completed. A subcontractor must record a lien within 90 days of the date that they last worked on the property. A claim must include a statement of the work performed according to the contract, the amount due to the claimant, and a description of the property. A claimant must file a lawsuit to foreclose on the lien within two years after the completion of work. If the lawsuit is successful, the claimant will be entitled to receive the amount due, as well as interest at the rate of 10% per year.

Subcontractors must meet some additional reporting requirements before they can file a mechanic’s lien. Within 60 days after commencing work on the property, they must provide a notice to the property owner specifying the name and address of the subcontractor, the type of work to be performed or the materials to be provided, the date work began, and the name of the contractor who hired the subcontractor. 

A mechanic’s lien can be removed when the claimant releases the lien, usually after receiving payment. If a claim has been filed, but a lawsuit has not been commenced, a property owner can serve notice to the claimant requiring them to file a lawsuit within 30 days, and if the claimant fails to do so within that period, they will forfeit their rights to the lien.

Contact a Schaumburg Real Estate Attorney

If you need help resolving issues related to mechanic’s liens or other encumbrances during a real estate transaction, the attorneys of Drost, Gilbert, Andrew & Apicella, LLC can help you meet your legal requirements and work with you to complete your transaction successfully. Contact our Rolling Meadows real estate lawyers today at 847-934-6000 to arrange a personalized consultation.

About the Author: Attorney Jay Andrew is a founding partner of Drost, Gilbert, Andrew & Apicella, LLC. He is a graduate of the University of Dayton School of Law and has been practicing in estate planning, probate, trust administration, real estate law, residential/ commercial leasing, contracts, and civil litigation. Since 2005, Jay has been a Chair of the Mock Trial Committee for the Annual Northwest Suburban Bar Association High School Mock Trial Invitation which serves over 240 local Illinois students each year.



Sources:
http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2254&ChapterID=63
http://www.gorequire.com/blog/understanding-mechanics-liens-what-they-are-and-how-they-impact-property-title

Transferring a Home to an Adult Child – Why Putting Them on the Deed is Not an Option

Web Admin - Friday, October 06, 2017
Illinois wills and trusts attorneysAs parents age and their children grow up, they begin to face their own mortality. They realize they will not always be around, and that everything they own must be given to a loved one, a charity, or an adult child. Homes are one of the most commonly transferred items after death, but how you do it matters. Learn more about transferring your home to a child, including why simply “putting them on the deed” should never be an option. 

Dangers of Deed Transfers 

There are three basic ways to transfer the deed of your home: an ownership transfer deed, a will or living trust, or a transfer on death instrument. Of all the options, the first is your least desirable. Mostly, this is due to the tax implications that an heir may face, should you simply transfer the title over to their name. However, this is not the only concern when transferring a deed over to an adult child – nor is it the most concerning. 

Parents typically trust their children, but there have been instances in which children have sold the home, right out from underneath their parent, to gain a profit. Alternatively, if the child ends up in a lawsuit or falls behind on their income taxes, the house could have a lien placed on it. Because the deed is now in the child’s name, the parent (who may still be living in the home) is powerless. They cannot stop the seizure, remove the lien, or save their home. 

A Better Way to Transfer the Ownership of a Home 

Besides deed transfers, parents can use either a living trust or a transfer upon death instrument. How do you decide which is most appropriate for your needs or situation? The first step is to consider your situation. Is your adult child responsible? Can they maintain the deed on their own? Might they have a way to move the mortgage over to their name, or is their credit rating simply too low? All these questions – and more – can be answered by an experienced estate planning lawyer.   

Contact Our Arlington Heights Wills and Trusts Lawyers 

No one likes to think about passing away, which is why Drost, Gilbert, Andrew & Apicella, LLC work so hard to provide compassionate and experienced assistance. Committed to ensuring we exceed your expectations, our Arlington Heights wills and trusts lawyers can examine your situation, advise you of your options, and then assist you in developing creative estate planning solutions to fit your needs. Schedule a personalized consultation to learn more.

About the Author: Attorney Jay Andrew is a founding partner of Drost, Gilbert, Andrew & Apicella, LLC. He is a graduate of the University of Dayton School of Law and has been practicing in estate planning, probate, trust administration, real estate law, residential/ commercial leasing, contracts, and civil litigation. Since 2005, Jay has been a Chair of the Mock Trial Committee for the Annual Northwest Suburban Bar Association High School Mock Trial Invitation which serves over 240 local Illinois students each year.


Source:

http://homeguides.sfgate.com/can-transfer-deed-house-kids-before-die-50431.html




Recent Posts


Tags

Illinois law installment contracts Chicago insurance claim attorneys Schaumburg personal injury lawyer Illinois employment laws car accident lawyer Barrington employment law attorney sexual images loss of consortium insurance adjusters overtime pay Rolling Meadows insurance dispute lawyers, insurance dispute Illinois Workers’ Compensation Commission Arlington Heights wills and trusts lawyers murder charges Des Plaines real estate attorney Rolling Meadows real estate attorney drug crimes lawyer Schaumburg employment law attorneys Buffalo Grove criminal defense lawyer Mount Prospect wills and trusts lawyers drug possession Illinois DUI attorney Schaumburg civil litigation attorney Illinois traffic attorneys Rolling Meadows personal injury lawyer Illinois rollover accident lawyers guardianship attorney Crystal Lake car accident lawyer Illinois business law atorneys insurance dispute, insurance dispute lawyers, insurance claim denial, insurance claim delays, Rolling Meadows insurance dispute attorneys Mt Prospect Attorney Chicago estate planning lawyer commercial leases Policy Cancellation products liability Chicago will attorney preventing accidents Crystal Lake pedestrian accident lawyer employee discrimination Rolling Meadows Kenilworth estate planning attorney Arlington Heights insurance attorney bad faith insurance claims civil litigation traffic offenses eluding a police officer commercial leasing investment property GM ignition switches Illinois employee rights attorney. estate planning for college students Inverness civil lawyer Deer Park motorcycle accident lawyer Illinois personal injury lawyer employment attorney Illinois employment law attorney Buffalo Grove corporate attorney traffic laws Crystal Lake law firm gift taxes Arlington Heights Traffic Lawyer Long Grove wills and trusts attorneys trusts Des Plaines accident attorney digital media accounts, estate planning, Arlington Heights estate planning attorney, Crystal Lake personal injury lawyer Rolling Meadows boating crash lawyer Palatine employment attorney Crystal lake insurance dispute attorney Illinois driving without license caregiver owner responsibility ObamaCare Illinois construction accident attorney Des Plaines drug lawyer personal injury claim insurance claim dispute attorney gift tax exemption, estate planning, estate planning strategies, Illinois estate planning, South Barrington estate planning attorneys FSLA healthcare claims Barrington litigation attorney deadly crashes appealing an insurance claim wrongful termination Food and Drug Administration's Food Safety Modernization Act Crystal Lake injury attorney federal regulations for LLCs real estate leasing medication errors advance healthcare directive Illinois insurance claim dispute lawyer subcontractor Chicago biking tips PTSD blended families Illinois injury lawyer drunk driving statistics condo association Illinois home inspection personal injury accidents Fair Labor Standards Act liens Barrington real estate lawyer estate planning, digital assets, Revised Uniform Fiduciary Access to Digital Assets Act, Illinois digital assets, Illinois estate planning, living wills Landlord Tenant Ordinance estate planning lawyer Fourth of July Schaumburg wrongful death attorney Crystal Lake employment law attorney college kids Inverness real estate attorney BUI criminal record Crystal Lake pet attorney Liquor Control Act DNR vacation home foreclosed rental property workers compensation benefits traffic accidents medical research Arlington Heights lawyer pregnant women Chicago traffic lawyer nursing home negligence license murder Rolling Meadows personal injury attorney natural gas Illinois wills and trusts Illinois workers compensation lawyer brain injury civil rights violation Des Plaines civil attorney creditors Long Grove real estate lawyer Illinois red light cameras Barrington Traffic Lawyer healthcare changes to mortgage law medical malpractice Buffalo Grove probate lawyer Rolling Meadows marijuana attorney Rolling Meadows traffic attorney slip and fall accidents loopholes surgical mistakes Illinois traffic ticket lawyer Arlington Heights wills and trusts attorneys insurance claim denials Illinois LLC creation taxes Des Plaines tax law firm Illinois insurance disputes Crystal Lake employment attorney Schaumburg car accident attorney Deer Park real estate law firm Illinois collections attorney Arlington Heights tax lawyer Rolling Meadows litigation lawyer Riverwoods estate planning lawyer Kenilworth estate planning attorneys Illinois trusts attorney Long Grove real estate attorney Rolling Meadows corporate lawyer insurance claim denial Crystal Lake bike accident lawyer financial advisors distracted driving accident victims crossover accidents Palatine corporate attorney Buffalo Grove personal injury attorney residential real estate Illinois employment attorneys car crash injuries Palatine trusts lawyer rollover car crashes Arlington Heights traffic attorney defective products lawyer CAM construction accidents, personal injury, wrongful death, Arlington Heights personal injury attorneys, workers' compensation estate planning DUI Jay Andrew back injuries Arlington Heights car crash attorneys probate lawyer drugs home inspection lawyer power of attorney employment lawyer Schaumburg elder law lawyer Buffalo Grove personal injury lawyer Illinois traffic attorney premises liability modern family estate planning Barrington employment attorney underage DUI Schaumburg estate planning attorney comparative negligence license suspension wills Employment Discrimination Law Rolling Meadows tax attorney rent to own real estate contracts car accidents agent personal injury claims Des Plaines criminal attorney criminal Illinois insurance claim attorney Des Plaines DUI attorney Arlington Heights personal injury attorney in terrorem provision Barrington Illinois estate planning lawyer estate plan Rolling Meadows criminal lawyer drug crime Long Grove estate planning attorneys motorcycle accident Illinois business lawyer Thanksgiving insurance agent negligence Palatine traffic lawyer Schaumburg injury lawyer fatal car accidents drug crimes pedestrian-automobile accident probate fees Attorney Ken Apicella Deer Park personal injury lawyer Des Plaines personal injury attorney estate planning trusts Illinois pet lawyer manufacturing Barrington personal injury lawyer trustee Long Grove estate planning attorney internet Des Plaines personal injury lawyer Illinois medical malpractice case mass shooting Chicago employment attorney Deer Park traffic lawyer insurance dispute traffic tickets privacy trucking accidents job lawyers preventable medical errors employment contract denial of life insurance Chicago estate planning unpaid assessment Des Plaines collections attorney Illinois Transfer on Death Instrument Schaumburg criminal law attorney insurance dispute attorney Illinois attorney Chicago attorney insurance claim Illinois medical malpractice lawyers Illinois traffic laws clemency denied insurance claim independent contractor holiday statistics TBI operating agreements hit and run accident Rolling Meadows traffic law firm jet ski Buffalo Grove law firm natural gas explosion unauthorized overtime Rolling Meadows insurance lawyer Palatine civil attorney medical malpractice compensation child safety compensatory time Crystal Lake tax lawyer insurance claim delay Inverness insurance attorney IRELA caretaker rights small business Crystal Lake medical malpractice lawyer Inverness estate planning lawyer Buffalo Grove traffic attorney Illinois Wage Payment and Collection Act Deer Park criminal attorney Arlington Heights injury attorney South Barrington real estate attorney Illinois bicycle safety POA Illinois registered agent Rolling Meadows medical malpractice lawyers Chicago car accident lawyer social media after death Illinois speeding lawyer no contest clauses Home Sale Contingencies speeding Buffalo Grove car accident lawyer Des Plaines real estate lawyer insurance denials Forcible Entry traumatic brain injuries pedestrian injuries, pedestrian fatality motorcycle accident lawyer Rolling Meadows estate planning attorney sexual harassment elder abuse rest breaks real estate DUI attorney forming a corporation in Illinois Affordable Care Act Inverness personal injury attorney digital assets institutional trustee DUI defense medical malpractice, missed diagnosis, delayed diagnosis, medical mistake, Deer Creek medical malpractice lawyers Arlington Heights wills and trusts attorney Arlington Heights medical malpractice lawyer Colin H. Gilbert Illinois Probate Act of 1975 real estate lawyer foreclosure coronavirus Arlington Heights estate planning attorney Illinois Trust Code Illinois pedestrian accident attorney severance agreements product liability Barrington estate planning lawyer pedestrian accidents wrongful death Arlington Heights personal injury lawyer living trust Rolling Meadows criminal attorney Inverness accident lawyer Illinois workplace discrimination attorney traffic violations defense workplace sexual harassment Schaumburg traffic lawyer marijuana crimes attorney attorney fees real estate closing Illinois jet ski accident lawyer Rolling Meadows Traffic Lawyer wills and trusts dealing with problem employees Crystal Lake estate planning lawyer Schaumburg estate attorney real estate contract Des Plaines drug crimes lawyer IRS driving breach of contract Rolling Meadows drug defense attorney Illinois workplace lawyer breathalyzer test estate planning, death tax, succession plans, business estate plans, Barrington estate planning lawyers unfunded trust Long Grove estate planning Illinois employment law power of attorney for healthcare Rolling Meadows Attorney swimming pools anesthesia errors Barrington criminal defense lawyer traumatic brain injury Rolling Meadows DUI lawyer tax attorney IRA benefits Crystal Lake criminal defense attorney comp time problem employees FMLA dog bites Barrington injury attorney Illinois insurance claim dispute lawyers boating DUI DUI penalities Barrington workers compensation attorney Schaumburg estate planning lawyer criminal law BAC underfunded trust Illinois elder law attorney Palatine employment law lawyer boating under the influence contracts Illinois employment law firm Inverness probate lawyer Family Medical Leave Act Schaumburg probate attorney digital evidence Deer Park accident attorney Illinois estate planning law firm blood alcohol content Inverness real estate lawyer employees meal breaks employee rights Schaumburg Illinois boating accident lawyer Retaliatory Discharge medical marijuana Illinois personal injury attorney Arlington Heights real estate lawyer Palatine construction attorney Illinois insurance claims lawyers digital assets, digital fiduciary, estate planning, digital content, Long Grove estate planning lawyers Colin Gilbert insurance disputes, Illinois insurance disputes, Illinois insurance dispute attorneys, denied insurance claims, Arlington Heights insurance dispute attorneys Illinois medical malpractice attorney South Barrington real estate lawyer Illinois criminal defense attorney Illinois personal injury Rolling Meadows accident lawyer drunk driving cell phone accidents Kenilworth estate planning lawyer reckless homicide Illinois real estate lawyer construction accidents Buffalo Grove insurance claim dispute lawyers Arlington Heights TBI attorney life insurance lawyer health insurance dispute Schaumburg insurance lawyers Illinois civil litigation lawyer special needs trust Schaumburg real estate lawyer Arlington Heights wills and trusts lawyer Illinois deed transfer criminal defense Illinois insurance dispute lawyers insurance disputes Schaumburg construction accident lawyer denied insurance claims Palatine probate lawyer Illinois insurance lawyer Inverness elder law lawyer Arlington Heights accident attorney Deer Park DUI lawyer insurance denial appeals liability Barrington employment law firm Illinois lawyer trucking accident lawyers pain and suffering sole proprietorship Rolling Meadows personal injury lawyers Barrington attorney LLCs Deer Park medical malpractice attorney digital information life insurance policy Schaumburg personal injury lawyers Self-Directed IRA Accounts workers compensation Illinois wrongful termination lawyer life insurance Inverness traffic law firm personal injury, auto accident injuries, delayed injuries, serious injuries, Des Plaines personal injury attorneys Illinois insurance attorney personal injury lawyer probate car accident BAIID personal injury spinal cord injury probate claims process Illinois Sales Representative Act Arlington Heights pedestrian accidents medical malpractice claims Schaumburg corporate attorney Des Plaines insurance attorney slip and fall car crashes civil litigation attorney Palatine traffic accidents Illinois real estate boating accidents real estate zoning insurance attorney Palatine estate planning lawyer food poisoning underinsured motorist golf accidents Arlington Heights criminal lawyer Barrington boating accident attorney bike accident employment law cell phone Inverness corporate attorney Palatine Attorney Mount Prospect real estate lawyer Des Plaines personal injury lawyers automated cars employment contract, employment law, employment at-will, Deer Park employment law attorneys, contract, irrevocable trust Illinois employment lawyer Joliet general practice lawyers Palatine criminal defense lawyer Rolling Meadows probate lawyer right to work llinois Real Estate Lawyers Association Barrington estate planning attorney federal crimes Barrington business law firm suspended license insurance negligence Rolling Meadows employment law attorneys Des Plaines medical malpractice attorney Illinois tax attorney Palatine business attorney Crystal Lake personal injury attorney hands free device car accident lawyers whistleblower protections employee misclassification Illinois will lawyer traffic violations vacation home fines ken apicella income distribution deducation marijuana Buffalo Grove medical malpractice lawyers Illinois medical malpractice claim Crystal Lake traffic attorney senior citizens Crystal Lake traffic lawyer fiduciary rule pay when paid contract Barrington criminal lawyer Detainer Actions landlord tenant law Rolling Meadows insurance dispute lawyers corporate law traffic crimes work unions Legal Info distracted driving accidents rollover accidents IRA trust transfer Palatine corporate law attorneys license reinstatement Illinois car accident attorney Illinois Smoke Detector Act involuntary manslaughter Palatine elder law attorney Des Plaines claims law firm insurance claims Palatine drug lawyer Crystal Lake medical malpractice attorneys condo car collision trauma after an accident Whistleblower Claims unpaid overtime bicycle accidents car crash Illinois estate planning attorney Arlington Heights car accident lawyer employment law, Illinois employment laws wage theft startup company truck collisions Crystal Lake business law attorneys Illinois probate lawyer Illinois defective products attorney field sobriety test Rolling Meadows employment law attorney wrongful termination, employment law, whistleblower protections, Illinois employment laws, discrimination in the workplace living trust benefits fault based insurance trust payments Crystal Lake will lawyer personal injury law firm Illinois personal injury lawyers pet law new real estate form Crystal Lake medical malpractice law firm Illinois motorcycle accident lawyer uninsured motorist DMV Arlington Heights employment law attorneys Arlington Heights trucking lawyer minimum wage Illinois living will Illinois wills and trusts attorneys Schaumburg personal injury attorney bicycle dooring accidents Buffalo Grove traffic lawyers Super Mario business litigation Chicago insurance law firm murder defense auto accidents Illinois employment law attorneys Buffalo Grove injury lawyer Palatine workers compensation lawyer Buffalo Grove real estate attorney Des Plaines motorcycle accident attorney revenge porn Illinois Human Rights Act Transfer on Death Instrument Palatine civil litigation lawyer employment law, meal breaks, rest breaks, hotel employees, Des Plaines employment law attorneys Chicago lawyer personal injury attorney Crystal Lake civil litigation lawyer Deer Park employment law attorney Palatine punch death life insurance claims consent to a search Illinois mortgages dram shop law Palatine personal injury lawyer Chicago will attorney, social media platforms, Illinois estate planning lawyer, elder law jet ski accidents Federal Food Drug and Cosmetic Act expungement Schaumburg drug defense lawyer Palatine injury attorney insurance claim dispute paid sick leave probate process workers comp Crystal Lake insurance lawyer privacy laws Crystal Lake car accident attorney Illinois corporate lawyer disability benefits Barrington personal injury attorney Crystal Lake employment lawyer head on collisions DGAA Do Not Resuscitate traffic deaths Des Plaines injury law firm Illinois trucking safety trench injuries texting and driving low-ball insurance settlement Arlington Heights employment attorney license revocation Deer Park traffic accident attorney defective products liability claims Des Plaines Home Remodeling Repair Act Inverness injury lawyer ACA spinal cord injuries pet bites Barrington civil litigation attorney fiduciary rule delay Illinois small business Rolling Meadows insurance attorney hiring employees commercial real estate Arlington Heights Attorney texting while driving Schaumburg medical malpractice lawyer icy parking lots living trust vs will Mount Prospect elder law attorney Palatine employment lawyer Schaumburg criminal attorney estate planning attorney Illinois workers compensation attorney pizza emoji Illinois job attorney Rolling Meadows car accident lawyers Class A misdemeanor Chicago employment lawyer homestead rights Inverness DUI lawyer real estate attorneys accidental death benefits School Visitation Rights Act cell phone tower data Crystal Lake accident attorney estate attorney controlled substance Rolling Meadows employment attorney estate tax Deer Park workers compensation lawyer Schaumburg employment attorney Illinois traffic accident lawyer Barrington medical malpractice lawyers probate claims dynasty trusts construction contracts first degree murder Palatine law firm Barrington drug crime attorney Chicago corporate attorney Palatine insurance lawyer overtime violations Palatine real estate lawyer insurance agents Des Plaines Traffic Lawyer Rolling Meadows business lawyer Des Plaines pet law attorney pedestrian accident filing a medical malpractice claim Schaumburg Attorney mortgage Chicago trucking accident attorney rumble strips capital gains tax Buffalo Grove employment lawyer real estate attorney landlord Exclusions Illinois estate planning

Archive